Hutchison Port Holdings Reaches 200 Million TEU Milestone in Hong Kong
- Business & Finance
Singapore-listed container port business trust Hutchison Port Holdings Trust (HPH Trust) has reached a cumulative throughput of 200 million TEUs in Hong Kong since starting its operations at the Hong Kong Port half a century ago.
The Hong Kong terminal operators under the banner of the HPH Trust – namely Hongkong International Terminals Limited, COSCO-HIT Terminals (Hong Kong) Limited, Asia Container Terminals Limited, and related portfolio ancillary services – have made significant contributions to Hong Kong’s container port industry and overall economic development over the past half century, the company said in a statement.
“The past half century has been a wonderful journey for our industry and for Hong Kong. HPH Trust is committed to the continuing success of Hong Kong Port as we set sail towards our next 200 million TEU,” Gerry Yim, Chief Executive Officer of HPH Trust, said.
“Facing the recent challenges, our strategy is “Be Prepared”. Our company will not diminish its development; on the contrary, we have committed a HKD 1.8 billion equipment investment plan to enhance our operational standards. There is a sharp rise in transshipment volumes in recent years, which under the cabotage rules, Hong Kong remains as a port of choice for international shipping lines. As such, raising our handling efficiency is very vital to support Hong Kong’s development as a logistics hub and maintain its competitiveness, setting trends and standards along the way. We are also encouraged that the government is pushing ahead a new land use and barge berth strategy to support the container port industry. “