HPH Trust expects muted impact on cargo volumes even if trade war materialises: CEO
Q1 results largely as expected with profit down 12.9% and revenue up 3.5%
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Singapore
HUTCHISON Port Holdings (HPH) Trust estimates that its cargo volumes would be hit by less than 2 per cent a year, should potential tariffs announced by the US on China exports materialise.
In a media briefing before its results release on Friday, CEO Gerry Yim said the items targeted by the US were mostly in the heavy industry category, which would affect more of the ports in Tianjin and Dalian rather than Hong Kong and Shenzhen where its ports are located; and the high-tech category, which would tend to be air-flown rather than shipped by sea.
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