HIT volumes predicted to drop 10%.
According to DBS, volume growth at the HPH Trust’s HIT terminals in HK has been below par so far in FY13, with the port workers’ strike in April adding to the woes. HIT volumes could be down more than 10% y-o-y in 2Q13, with the high base in 1H12 – arising from higher transhipment activities between newly formed liner alliance partners – further skewing the comparison.
Here's more from DBS:
Yantian Port volumes though remain on course for mid-single digit growth as expected, but overall volumes in FY13 could be flattish, despite contribution from newly acquired ACT terminals in HK.
But the worst should be over and even though Europe trade remains weak, US volumes show relatively positive signs and upcoming peak season should provide more visibility for investors. This was the key message that HPHT communicated during our Pulse of Asia investor conference in Singapore recently.
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