CMHI’s reports robust overseas volumes

Its facilities in Nigeria, Djibouti, Sri Lanka and Togo and the Terminal Link stable of ports – in which it holds a 49% share – recorded growth of 14.2% year-on-year.

CMHI’s terminals on its home territory in China – including Yangshan Deepwater Terminal (pictured) – also saw an increase in volumes, with 83.66m teu handled in 2015, up 3.2% y/y. However, its Taiwan and Hong Kong hubs fared less well; here, volumes fell 15% to 6.14m teu.

Group-wide bulk cargo volumes were also down 2.8% at 353m tonnes against 363m tonnes in 2014.

Profit derived from core ports operation was HK$4.46bn (US$575m), up 3% year-on-year, while port operations recorded an EBITDA of HK$10.61bn (US$1.37bn), a decrease of 1.9% year-on-year.

Chairman of the board, Li Xiaopeng said the results were better than the industry average.

The Group’s ports operation is expected to remain steady in 2016, thanks to the “stability displayed at the ports in China and the impetus from the faster growth at existing overseas projects”.