As the Hong Kong dockworkers’ strike for better pay and working conditions enters its fourth week, some analysts believe there could be long-term economic repercussions for the city and port.
Since March 28, lines and shippers have suffered serious delays or been forced to reroute services to avoid calls at facilities operated by Hongkong International Terminals, a subsidiary of Hutchison Port Holdings and the target of the action.
Whether the current strike is eventually viewed as catalyst for a change of liner strategy or a short-term operational blip remains to be seen. What is certain is that Li Ka-shing, Asia’s richest man and the owner of HPH Trust, is unlikely to lose out if more cargo starts being diverted from Hong Kong to ports in Southeast China. HPH Trust operates a roster of facilities over the border, including Shenzhen’s Yantian International Container Terminals, one of the main beneficiaries of current boxship diversions from HIT.