However, the combined throughput for HPH Trust’s Hong Kong terminals was 7% lower over the same period, owing to a reduction in transshipment cargo. As a result, HPH Trust’s overall throughput volume fell 1% y-o-y to just over 24 million twenty-foot equivalent units (TEUs) in FY2018.
SINGAPORE (May 20): Hutchison Port Holdings Trust (HPH Trust), which operates container terminals in Hong Kong and Shenzhen, is feeling the full-blown effect of the US-China trade war, with container volume handled down and revenue stagnant.
For FY2018 ended Dec 31, HPH Trust’s throughput for its Yantian port in Shenzhen managed to grow by 4% over FY2017, helped by front-loading of cargo by shippers in 4QFY2018. They were trying to avoid the 25% tariff hike to be imposed by the US on Chinese exports in January 2019.
