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The transshipment is an important issue in the current marine transportation. This paper constructed a mathematical programming model to elaborate the transshipment port selection for the shipping company. This model is tested by the data collected from the ports of Hong Kong and Kaohsiung. The results show that this model can be used to explain the transshipment competition relationship between the ports of Hong Kong and Kaohsiung well. A sensitivity analysis was also executed. The sensitivity analysis results showed that both the port of Hong Kong and Kaohsiung should decrease the charges of port and increase the efficiency of loading and discharging. Based on the sensitivity analysis results, some interesting conclusions and helpful suggestions were obtained for the managers of the ports of Hong Kong and Kaohsiung to improve their port management.