Throughput at the group's eastern Shenzhen terminals, Yantian International Container Terminal (YICT) and Huizhou International Container Terminal (HICT), rose 8% to 9.6m teu, while the combined throughput of its HPH Kwai Tsing terminals comprising HIT, COSCO-HIT and ACT icreased 7% to 8.5m teu compared to the previous corresponding period, HPH Trust said in a press release.
Giving an update on market conditions, HPH said outbound cargoes to the US and Europe maintained their growth momentum in the third quarter, with YICT’s throughput growth mainly attributed to the growth in the US, Europe, empty and transhipment cargoes.
Meanwhile, the increase in throughput at the HPHT Kwai Tsing terminals was largely due to stronger transshipment cargoes and additional throughput from a new customer, HPH Trust said.
"The US economy has continued to grow steadily with solid fundamentals. Outbound cargoes to the US remained strong in the third quarter of 2017," the trust said. It warned however, that "political and policy developments in the US including future pace of monetary policy normalisation still pose uncertainties and downside risks to the overall global and US economic growth".
On the outlook for the container industry, HPH Trust said: "Excess capacity continues to keep freight rates under pressure with shipping lines striving to improve competitive advantages by capacity optimisation, cost reductions and enhancing productivity through fleet rationalisation, deployment of mega-vessels and reformation of carrier alliances."
It noted however that with its strategic transshipment hub in Hong Kong and mega-vessel handling capabilities in Yantian, its ports are well positioned to support the changing requirements of the lines.
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