Hutchison Whampoa ports division posts flat throughput

Hong Kong: Hutchison Whampoa's port and related services division handled 75.1m teu of container throughput in 2011 and improved its revenue by 12% year-on-year.

While throughput growth was flat at 75.1m teu, revenue grew to HK$32.52bn ($4.19bn) and earnings before interest, taxes, depreciation and amortization rose 14% to HK$11.75bn.

In the first quarter of last year, the ports division executed the public listing of HPH Trust in Singapore. In the second half of 2011, the division started commercial operation of two new deepwater berths in Felixstowe port, UK's largest container port, and acquired operating rights to four berths in Ajman port in the UAE under a 10-year concession agreement.

This year, the division will open three new berths at Muelle Prat terminal in Spain, two at Huizhou International Container Terminal in China and one at Westports in Malaysia.

In addition to the six new berths this year, nine berths are expected to come into operation in 2013, including two berths from the division's greenfield port in Sydney.

Posted 30 March 2012

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Lee Hong Liang

Asia Correspondent

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