Trade war still hinders HPT Trust
Hutchison Port Holdings Trust (HPT Trust) has once again reported “challenging” market conditions with the US-China trade war and Brexit amongst the issues which “threaten the recovery of global trade”.
In its financial results for the second quarter of 2019, ended 30 June, HPH Trust said outbound cargoes to the US remained weak in the second quarter of 2019 and figures are expected to be volatile in the second half of 2019 as the US-China trade dispute continues.
“Global external environment continues to be challenging,” said HPT Trust. “Trade tensions between US and China have heightened in recent months with new tit-for-tat tariffs imposed in the second quarter of 2019. Trade protectionism, macro-economic and political uncertainties, including the slowing Chinese and EU economies and the yet-to-be-resolved Brexit from the EU, threaten the recovery of global trade.”
Speaking about the fleet and capacity optimisation approach of shipping lines, HPT Trust said the “continued deployment of mega vessels will necessitate investment in port facilities and continuous process improvements by deep water port operators”.
In Hong Kong, HPH Trust operates Hongkong International Terminals (HIT), COSCO-HIT Terminals (COSCO-HIT) and Asia Container Terminals (ACT). In mainland China, HPH Trust operates Yantian International Container Terminals (Yantian) and Huizhou International Container Terminals (HICT).
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