Hutchinson Port Holdings (HPH) Trust has recorded a 12.9% drop in net profit to US$18 million in Q1, 2018, while revenue has risen to 3.5% to $340 million.
In a report, the terminal operator stated that combined container throughput of its Kwai Tsing Port has slightly risen on Q1, 2017.
Yantian International Container Terminals (YICT) throughput rose 8.7%.
HPH said in a statement: “2018 is set to be a transformative year for the global shipping lines industry, driven by shifting economic trends and trade flows in conjunction with the consolidation of ownership.
“Investment in the modernisation and expansion of port facilities is expected to continue to drive overall efficiencies and competitiveness.
“Overall, 2018 global trade outlook remains positive, with solid trade volume growth recorded in the first quarter of 2018 although this, by and large, is still susceptible to the uncertainties and downside risks arising from protectionist US trade policies and geopolitical tensions.”
China and Japan have recently set out a joint message in which they concur that a trade war with the US is highly undesirable.
Such a move will, at least in theory, ease the worries of supply chain drivers.