Hutchison reports increase in sales, container throughput

Hutchison Whampoa said it had revenue of HK$176 billion ($22.5) in the six months ending June 30, 25 percent more than in the same 2007 period.

The company said its ports and related services division handled 32.8 million TEU, 4 percent more than in the same 2007 period, and that revenue from that business was HK$19.6 billion ($2.5 billion).

Hutchison operates in five of the six busiest container ports in the world, with interests in 47 ports comprising 292 berths in 24 countries.

   Hutchison said major contributors to container throughput growth were:

   Westports in Klang, Malaysia, volumes up 17 percent.

  Kwai Tsing terminals in Hong Kong, up 5 percent.

   Jakarta port container terminals in Indonesia, up 14 percent.

   Europe Container Terminals in Rotterdam, up 5 percent.

   Panama ports container terminal, up 12 percent.

   Two container terminals in Alexandria in Egypt, which began operations in March and June 2007, respectively.

   The company noted, however, that its throughput was 5 percent lower throughput the Yantian port in the China, which it said has been the operation most affected by declining U.S. imports.

   Hutchison said it was expanding and enhancing existing facilities in Yantian, Gaolan in Zhuhai, Rotterdam, Laem Chabang in Thailand, the Bahamas, Lazaro Cardenas in Mexico and Panama

   The first berth of European Container Terminals's new Euromax terminal is expected to be commercially operational by early 2009.

   Construction of the expanded facilities in Laemchabang and Lazaro Cardenas, and new facilities in Ecuador and Vietnam are progressing satisfactorily, Hutchison said.

   In May, it said the first phase of construction work of the Felixstowe South Reconfiguration scheme of Hutchison Ports (UK) commenced. This additional deepwater container terminal facility is scheduled to be fully operational by the second half of 2010.

   In August, a consortium led by Hutchison announced it had been named the preferred bidder by the Board of Thessaloniki Ports Authority Greece's second-largest container port. 

Source: American Shipper