HPH Trust is looking at a neutral to modest growth in box throughput this year at its Hong Kong and South China container terminals in view of transhipment volumes anticipated to hold steady and marginal improvements to the container shipping market.
Taiwan’s carrier Evergreen will add Subic to its existing Korea-Taiwan-Philippines (KTP) service from next month, utilising Subic’s New Container Terminals 1 and 2 operated by Manila-based International Container Terminal Services, Inc. (ICTSI).
Cosco Shipping Ports (CSP) saw 2016 net profit drop by 43% to $247m from $429.3m previously on almost flat revenue, which saw a 1.1% rise to $556.4m from $550.2m previously.
China’s National Development and Reform Commission (NDRC) announced that seven more international container lines have agreed to comply with the Chinese authorities’ request to lower their terminal handling charges, adding on to 11 lines that have agreed earlier this month.
Major Malaysian port operator Westports Holdings had a good year, seeing 2016 net profit rise 26% to MYR637.0m ($143.4m) from MYR504.9m previously, as revenue rose 21% to MYR2.03bn from MYR1.68bn in the previous corresponding quarter.
Hong Kong and south China-focussed container terminal operator HPH Trust saw throughput at its ports fall 6% in 2016 from the year before as a combination of lower transhipment cargoes and weaker intra-Asia trade hit volumes.
DP World has announced a 2.2% increase in gross container volumes across its worldwide portfolio on a like-for-like basis in 2016.