HONG KONG: Sharp fall in HK air cargo growth

Slowing Chinese exports and continuedsurging fuel prices have startedtaking their toll at the world’s busiestcargo airport, with cargo volume growthat Hong Kong’s airport slowing sharply inJune, according to the Airport Authorityof Hong Kong. The airport operator said cargo volumein June rose 2.4 per cent to 312,000tonnes, from 305,000 tonnes a year earlier,but that is down […]


Slowing Chinese exports and continuedsurging fuel prices have startedtaking their toll at the world’s busiestcargo airport, with cargo volume growthat Hong Kong’s airport slowing sharply inJune, according to the Airport Authorityof Hong Kong.

The airport operator said cargo volumein June rose 2.4 per cent to 312,000tonnes, from 305,000 tonnes a year earlier,but that is down from May’s 6.7 percent growth and is the lowest expansionin cargo volume in the past year.

"The slower growth in air cargo waslargely in line with the reduction in foreigntrade between China and its tradingpartners in the month," the authoritysaid in a statement. "Higher cost of airfreight will also drive less time-sensitiveshipments to sea freight."

For the first six months of this year,the airport handled 1.8 million tonnes ofcargo, or 6.8 per cent more than it did inthe same period last year.