HPH in Enormous New TEU Milestone

Hutchison Port Holdings Trust (HPH Trust) has reached its next milestone after reporting that it has achieved a total throughput of 200 million TEU, according to World Maritime News.

Gerry Yim, CEO of HPH Trust, said: “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.

“Facing the recent challenges, our strategy is ‘be prepared’. Our company will not diminish its development; on the contrary, we have committed a US$232 million 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.”

HPH recently announced that it will be spending around $6.5 billion to fully automate Barcelona’s Europe South Terminal, as part of its 15-year contract extension to operate the port.

The company are also looking to quadruple capacity at its Oman International Container Terminal to six million TEU and will invest another $300 million in the terminal by 2019.