Port Operators

[winston]

Not vested.

DJ MARKET TALK: China Port Plays Higher; Guotai Keeps Outperform

1539 [Dow Jones] HK-listed China ports plays outperforming vs HSI's 0.4% rise, after strong China export data (December exports +17.7% on-year). Guotai Junan keeps Outperform on China port sector, while tipping absolute value for China exports will probably slow in 1Q because of seasonal and holiday factors, but would rally during next 2 years with gradual recovery in EU and U.S. economies, which will benefit China port operators.

Keeps China Merchants Holdings (0144.HK) at Accumulate, target at HK$29.60 as CMH should benefit most obviously from China export recovery, also maintains Dalian Port (2880.HK) at Accumulate, target at HK$3.75 as company's plans to issue A shares and acquire its parent company's port assets.

CMH +4.7% at HK$27.65, Dalian Port +4.8% at HK$3.30.

Source: Dow Jones Newswire

[winston]

Dear All,

I have moved the various discussions on LKS port's listing into "Hutchinson Port Holding Trust", located under "H" of the SGX listed companies.

Sorry for any inconvenience caused.

Take care,
Winston

[winston]

Not vested

DJ MARKET TALK: China Ports' June Volume Growth Slows - CS

1133 [Dow Jones] Credit Suisse says its channel checks reveal that both Shanghai and Ningbo port saw further slowdown in on-year volume growth in June, although the slowdown "seems largely expected."

The house says sector valuations are below the historical average, reflecting the softening volume growth; in the near term, it expects sector performance to continue to be capped by growth concerns until positive data points come out.

Cosco Pacific (1199.HK) remains CS' top pick in the sector given its more resilient volume and earnings growth, and is kept at Outperform with a target price of HK$18.20. The stock is up 2.0% at HK$14.24.

Source: Dow Jones Newswire

[winston]

Shanghai port profit falls amid higher sales

Despite retaining its position as the world's busiest port for the second straight year, Shanghai International Port's earnings fell 13.7 per cent last year.

Source: SCMP

[winston]

PSA International's 2011 World Container Volume Expands 5.6%

(PSAI), a Singapore- based port operator, said the amount of containers handled at its port projects worldwide increased 5.6 percent in 2011, with record volume in the Asian city-state.

http://www.bloomberg.com/news/2012-01-1 ... -5-6-.html

[winston]

Port of Shanghai sees a slowdown

In a sign of slowing global trade, the throughput of Shanghai, the world's busiest port, turned out to be weaker than expected in the first two months of this year.

Source: SCMP

[winston]

More gloom in store for Hong Kong port

City loses No 3 spot to Shenzhen after container throughput drops for two consecutive years

http://www.scmp.com/business/economy/ar ... -kong-port

[winston]

Shenzhen knocks HK out of top three by Karen Chiu

Hong Kong has lost its position as the world's third-busiest port to Shenzhen, as containers handled by the SAR last year fell by 3.6 percent. It is the first time the territory has ranked outside the top three.

This comes as a survey by The Economist magazine claimed that Hong Kong is at serious risk of losing its pivotal business center position in Asia to other first-tier Chinese cities.

Over the past 12 months, Hong Kong terminals handled 22.3 million 20-foot equivalent units, compared with 23.12 million TEUs a year earlier, data by the Hong Kong Port Development Council showed.

Hong Kong now ranks the fourth-busiest port in the world as Shenzhen reached 23.3 million TEUs last year, the Transport Commission of Shenzhen Municipality said.

Shanghai and Singapore remain the world's two biggest container ports.

A contributing factor to the drop in rank was that ships were diverted in March as port workers at Hongkong International Terminals, under Hutchison Whampoa (0013), went on strike for 40 days for higher wages.

Meanwhile, according to The Economist's Asia Business Outlook Survey 2014, Hong Kong is at risk of becoming irrelevant as a business center in Asia, with Beijing and Shanghai vying for the honor.

A total of 334 senior executives were interviewed last month for the poll.

"It puts pressure on Hong Kong as `the gateway to China,' as the center of decision-making shifts to Shanghai and Beijing," said Ross O'Brien, Hong Kong director at The Economist Corporate Network. He added that Hong Kong's attractiveness as a connection point between China and the rest of the world is decreasing.

Also, pollution, housing, schooling and other quality of life issues are losing ground, O'Brien added. But infrastructure, professional services, and gathering of talent and capital are still unparalleled.


Source: The Standard

[winston]

Hong Kong port loses out to bigger berths in Shenzhen

Tight space at Kwai Tsing container terminals will see shipping alliance deploying its larger vessels to newer port facilities in the north

Hong Kong port could lose further business to Shenzhen because an alliance of three shipping companies would need bigger berths for their large vessels and more space at their docks.

The consolidation of Maersk, CMA CGM and Mediterranean Shipping Co (MSC), which has been dubbed P3, would lead to a cut of 10 sailings per week from 18 at the Kwai Tsing container terminal, said Sunny Ho Lap-kee, the executive director of the Hong Kong Shippers' Council, quoting a report by shipping consultant Alphaliner.

The packed layout of berths and shorter berth lengths at Kwai Tsing, which opened in 1972, means only 15 of the 24 berths in Hong Kong can accommodate large container ships or vessels carrying 11,000 to 18,000 20-foot equivalent units (teu).

The port facilities in Shenzhen are newer and can handle large vessels.

"The area of hinterland per berth at Hong Kong is just half of the international standard because of the acute shortage of land," Ho said. "Bunging (congestion) is very serious in Hong Kong even though our throughput was down last year."

A port operator in west Shenzhen said its business would increase after P3 was up and running.

"The number of calls to Shekou will increase according to the new rotations deployed by P3," said David Deng, a vice-president of China Merchants Holdings International. "Some ports will face call cuts while others will benefit from the consolidation."

Shenzhen overtook Hong Kong as the third-busiest container terminal in the world last year by handling 23.3 million teu.

Hong Kong, which handled 22.3 million teu last year, saw shipments diverted to Shenzhen during a strike at the dock last summer.

Gerry Yim Lui-fai, the chief executive of Singapore-listed HPH Trust, said it had been talking to CMA CGM and MSC on how to improve their productivity. He said the P3 members were all "adequately served" in Hong Kong.

The P3 shipping alliance, which has yet to be approved by mainland China, European Union and the United States, is likely to have a 37 per cent share of the Asia-Europe trade and 24 per cent of the transpacific trade.

The rationalisation of the services of P3 members, with 255 vessels on 29 loops, will come through consolidation in vessel rotations and the replacement of small vessels with bigger ships.

Maersk operates a Triple-e vessel, which has a capacity of 18,000 teu, which will require a deeper berth to dock. Dredging will be done in Kwai Tsing in the next two to three years to deepen the berth.

The Tonggu channel in Shenzhen is also being dredged to make it deeper and this will be completed in April to allow Triple-e vessels to use the port.

http://www.scmp.com/business/china-busi ... s-shenzhen

[winston]

Hong Kong port hits 12 months of declining volumes

http://www.joc.com/port-news/asian-port ... 50716.html