Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Singapore Stock Exchange  >  Hutchison Port Holdings Trust    HPHT   SG2D00968206

HUTCHISON PORT HOLDINGS TRUST

(HPHT)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Hutchison Port Hldg Trust : Hong Kong Seaport Alliance welcomes world's largest container vessels to cement the city's international shipping hub status

share with twitter share with LinkedIn share with facebook
share via e-mail
07/30/2019 | 06:30am EST

For immediate release

Hong Kong Seaport Alliance welcomes world's largest container vessels to

cement the city's international shipping hub status

(Hong Kong, 25 July 2019) The Hong Kong Seaport Alliance (HKSPA) today welcomed OOCL HONG KONG, one of the world's largest container vessels, on its maiden call to Hong Kong at the HKSPA's facilities at Terminal 8. The vessel, together with ten other mega vessels from Orient Overseas Container Line Limited (OOCL) and COSCO SHIPPING Lines Co., Ltd (COSCO SHIPPING), has been deployed on the OCEAN Alliance's Asia-North Europe Service since late June. The inclusion of Hong Kong as a port of call in this service re-affirms the city's status as an international shipping hub and a key gateway to Mainland China.

Formed in January this year, HKSPA has completed its berth and yard planning strategies to provide enhanced services to customers. The 23 berths under the members of HKSPA are divided into 3 terminal zones to provide greater efficiency to shipping alliances and individual carriers.

With a capacity of 21,413 TEU, OOCL HONG KONG was the first vessel in the world to cross the 21,000 TEU mark in May 2017. Currently there are 12 container vessels in the world with a capacity of over 21,000 TEU and this OCEAN Alliance Asia-NorthEurope Service features eight of them, including COSCO SHIPPING's largest vessel COSCO SHIPPING GALAXY, which called at Hong Kong earlier in the month on her maiden voyage.

In welcoming the OCEAN Alliance's new service and COSCO SHIPPING GALAXY to Hong Kong, Angela Lee, Commissioner for Maritime and Port Development and Deputy Secretary for Transport and Housing (Transport), emphasized the multi-faceted appeal and new prospects for the Hong Kong Port.

"Hong Kong, despite being small in size, has been in the league of the world's top ten ports for the past 30 years or so. This is an enviable achievement not easy to accomplish. Credits must go to our port operators for the provision of highly efficient and professional services to the international shipping community. Coupled with our sound fundamentals built over the years, including our free port status, strong international connectivity, trusted common law system, and a level playing field for business, I am confident that our port would be able to further leverage on new opportunities presented by the Greater Bay Area Development, the Belt and Road Initiative and the New Land-Sea Corridor, and continue to thrive as a regional transshipment hub," Ms Lee said.

Peter J. Levesque, Group Managing Director of Modern Terminals Limited said: "The arrival of the OOCL HONG KONG highlights HKSPA's ability to handle the world's largest container ships while emphasizing Hong Kong's critical role as a transportation and logistics hub in the region."

Andy Tung, Co-Chief Executive Officer of OOCL said: "As a Hong Kong company deeply rooted in the city, OOCL HONG KONG's maiden call has a very special place in many of our hearts. Containerships like the OOCL HONG KONG are important ambassadors of world trade and as a home carrier, we are very proud to have this vessel carry the name of Hong Kong, flying the flag of Hong Kong, and continue serving the industries of Hong Kong. OOCL is very blessed to call Hong Kong our home and being an integral part of the city's vibrant business community over the last 50 years, providing a vital link to global trade. We like to thank the HKSPA for the wonderful hospitality and celebrating this milestone event together with us."

Welcoming COSCO SHIPPING GALAXY's maiden voyage to Hong Kong on 10 July, Lawrence Shum, Managing Director of COSCO-HIT Terminals (Hong Kong) Limited (CHT) also highlighted the unique offerings of the HKSPA. "We are very pleased with COSCO SHIPPING GALAXY, the largest container vessel of COSCO SHIPPING, berthing at our facility in Hong Kong. The combined facilities of HKSPA can handle up to eight mega vessels at the same time which provides the big container shipping alliances with the capacity and flexibility to include Hong Kong in their network," said Mr Shum.

"We are proud of being ranked as the World's Best Transshipment Port by COSCO SHIPPING this year. We will keep on working closely with the carriers as well as the shippers and other logistics providers to maintain Hong Kong as a reliable transshipment hub in the region," said Hanliang Zhu, Managing Director of the Asia Container Terminals Limited (ACT), in the welcoming reception.

Chen Xiang, Deputy Managing Director of COSCO SHIPPING said, "The Port of Hong Kong is an important hub in our network. In 2017, the reorganized COSCO SHIPPING adjusted the South China network and strategically shifted more cargoes to Hong Kong. At the same time, the strong support of Hong Kong terminals on schedule reliability and service quality has contributed to our rapid and sustained growth in Hong Kong."

The OCEAN Alliance's Asia-North Europe Service started calling Hong Kong on 26 June with a port rotation of Hong Kong - Shanghai - Ningbo - Xiamen - Yantian - Singapore - Felixstowe - Zeebrugge - Gdansk - Wilhelmshaven - Piraeus - Port Klang - Hong Kong.

Facts about OOCL HONG KONG:

  • Length - 399.9 metres
  • Breadth - 58.8 metres
  • Depth - 32.5 metres
  • Container Carrying Capacity - 21,413 TEU (twenty foot equivalent unit)
  • Builder - Samsung Heavy Industries, South Korea
  • Flag administration - Hong Kong

Facts about COSCO SHIPPING GALAXY:

  • Length - 399.9 metres
  • Breadth - 58.6 metres
  • Depth - 33.5 metres
  • Container Carrying Capacity - 21,237 TEU (twenty foot equivalent unit)
  • Builder - Jiangnan Changxing Heavy Industry Co., Ltd, China
  • Flag administration - Hong Kong

About HKSPA

The HKSPA consists of four terminal operators: Hongkong International Terminals Limited, Modern Terminals Limited, COSCO-HIT Terminals (Hong Kong) Limited, and Asia Container Terminals Limited.

-End-

Media Enquiry

Weber Shandwick

Shirley Wong

Tel2533-9935 /6033-6225

Email address: shwong@webershandwick.com

Photograph 1

COSCO SHIPPING GALAXY passing through the Stonecutters Bridge and entering into Hong Kong Kwai Tsing Container Port

Photograph 2

COSCO SHIPPING GALAXY berthing at Hong Kong's Terminal 8

Photograph 3

At the welcoming cocktail of COSCO SHIPPING GALAXY, (from left to right) Zhu Hanliang, Managing Director of ACT, Zhang Fu Yuan, Managing Director of COSCO SHIPPING, Captain QIU Weiliang of COSCO SHIPPING GALAXY, Angela Lee, Commissioner for Maritime and Port, Commissar CHEN Jine, and Lawrence Shum, Managing Director of CHT.

Photograph 4

Lawrence Shum, Managing Director of CHT, Zhu Hanliang, Managing Director of ACT, Angela Lee, Commissioner for Maritime and Port, and guests, taking photograph with

COSCO SHIPPING GALAXY

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Hutchison Port Holdings Trust published this content on 30 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 July 2019 10:29:09 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on HUTCHISON PORT HOLDINGS TR
02/17HUTCHISON PORT HOLDINGS TRUST : Ex-dividend day for final dividend
FA
02/10HUTCHISON PORT TRUST : Announcement Pursuant To Rule 706A Of The Listing Manual
PU
02/10HUTCHISON PORT TRUST : Voluntary Winding Up Of Dormant Subsidiaries
PU
02/10HUTCHISON PORT TRUST : Change - Announcement Of Appointment Of Independent Non-E..
PU
01/23HUTCHISON PORT TRUST : Announcement Date For Release Of Financial Results Of Hut..
PU
2019HUTCHISON PORT TRUST : Successful Tender For Land Use Right By An Associated Com..
PU
2019HUTCHISON PORT TRUST : Proposed Increase in Indirect Equity Interest In Associat..
PU
2019HUTCHISON PORT TRUST : Entry Into Land Resumption Agreement Between An Associate..
PU
2019HUTCHISON PORT TRUST : Issuance Of US$500,000,000 2.875% Guaranteed Notes Due 20..
PU
2019HUTCHISON PORT TRUST : Hong Kong Seaport Alliance Launches New Barge Initiatives..
PU
More news
Financials (HKD)
Sales 2020 10 790 M
EBIT 2020 3 079 M
Net income 2020 488 M
Debt 2020 21 929 M
Yield 2020 66,9%
P/E ratio 2020 2,78x
P/E ratio 2021 2,68x
EV / Sales2020 2,16x
EV / Sales2021 1,96x
Capitalization 1 342 M
Chart HUTCHISON PORT HOLDINGS TRUST
Duration : Period :
Hutchison Port Holdings Trust Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HUTCHISON PORT HOLDINGS TR
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 5
Average target price 1,27  HKD
Last Close Price 0,15  HKD
Spread / Highest target 858%
Spread / Average Target 727%
Spread / Lowest Target 606%
EPS Revisions
Managers
NameTitle
Lui Fai Yim Chief Executive Officer
Kin Ning Fok Chairman
Hin Kee Tang Operations Director
Tung Wan Lee Chief Financial Officer
Tze Leung Chan Independent Non-Executive Director
Sector and Competitors