The Hong Kong Seaport Alliance has been set in motion this month with an aim of maximising operational efficiencies in Hong Kong’s Kwai Tsing port, even though the new alliance has not received regulatory clearance from the Competition Commission of Hong Kong.
Hutchison Port Holdings Trust (HPH) Trust has recorded a marginal dip in total throughput for 2018 over 2017, though volumes for Yantian International Container Terminals (YICT) posted growth on the back of higher US and transhipment cargoes.
The gathering storm ahead of a possible full-on trade war has started to become evident in the first half results of port operating companies, with Hutchison Port Holdings (HPH) Trust reporting that overall throughput for the first six months fell 1% to 11.2m teu.
Hong Kong’s under-used and struggling River Trade Terminal, a 50-50 joint venture between Hutchison Port Holdings and Sun Hung Kai Properties, may be redeveloped into a housing development, local media reported.
Port operator Hutchison Port Holdings (HPH) announced that its network of ports will be ready for full compliance with the IMO's amendments to the Safety of Life at Sea (SOLAS) convention on Verified Gross Mass (VGM) before it takes global effect on 1 July 2016.
While at a more general level Hong Kong's recent port workers' strike, which lasted through the whole of April, may have showed up the city's growing social divide, for those in the shipping and logistics industry, it illustrates an equally serious systemic problem with the port.