Hutchison Port has lower profit in 2013
Hutchison Port Holding Trust had a profit of HK$644 million ($83
million) in the fourth quarter of 2013, 34-percent less than the
HK$979.7 million earned in the same 2012 period. Revenue was HK$3.1
million in the 2013 fourth quarter, down about 1 percent from the same
HPH Trust had a profit of HK$3 billion in 2013, 15-percent less than
the HK$3.5 billion earned in 2012. Revenue was HK$12.4 million in 2013,
down less than 1 percent.
The company said 2013 full-year throughput of HPH Trust’s deep-water ports was 22.8 million TEU, 1-percent below last year.
Combined throughput of the HIT, COSCO-HIT and Asia Container
Terminal in Hong Kong was down 2 percent from the prior year to 12
million TEU, while the Yantian International Container Terminal (YICT)
saw a 1-percent increase in volume to 10.8 million TEU.
Throughput growth of YICT was mainly driven by transshipment cargoes
but offset by lower empty volume. HIT’s throughput drop was mainly due
to weaker transshipment and U.S./EU cargoes.
"U.S.-bound trade sees a positive trend, while EU’s cargo volume is
picking up slightly," the company said. "Growth in the U.S. and EU is a
major factor in determining the total volume of containers handled by
HPH Trust. Consensus outlook for both is favorable in 2014."
The company added that "transshipment and trade routes such as Far
East, Africa, Central and South America and Oceania are expected to
surpass those of the U.S. and Europe."
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