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Subsequently, one may also ask, why are port holes round?
First of all, circular openings on ships are called port holes and the glass covers are called port lights. So the port lights and holes must be able to be shut and sealed against tremendous forces. Round holes are easier to seal and to reinforce against forces than rectangular shaped holes which have weak points.
Then, why do they call it port side?
Before ships had rudders on their centrelines, they were steered with a steering oar at the stern of the ship on the right hand side of the ship, because more people are right-handed. Hence the left side was called port. The Oxford English Dictionary cites port in this usage since 1543.
Ships do not dock on the port side they actually never have. The side they dock on is detemined by the berth they enter. Some of them require that they face port and some require they face starboard.