Contrasting fortunes for Hutchison’s terminals in Yantian and Hong Kong

Hutchison Port Holdings (HPH) Trust’s throughput in the first half of 2022 was on par with the same period last year, although volumes were up 7% at Yantian International Container Terminal (YICT) in Shenzhen, while its Kwai Tsing terminals in Hong Kong registered a 7% decrease.

YICT’s throughput increase was attributed to a rise in US and empty cargoes while the drop in volumes at HPHT Kwai Tsing was due to lower local and transhipment cargoes.

Although HPH Trust delivered 8% growth in revenue to HK$6.47bn (US$820m), high oil prices exerted pressure on operating costs, partly causing profit before tax to drop by 4% to HK$2.15bn (US$270m).