HPH Trust raising tariffs by up to 10%

Singapore

HUTCHISON Port Holdings Trust (HPH Trust) is raising its port tariffs by up to 10 per cent as it seeks to prepare its ports to handle more mega container ships, it said in a media briefing on Monday. The trust, which operates ports in Hong Kong and South China, also plans to add more berths to its port in Shenzhen to free up more space for huge vessels.

It said this as it posted a 48.9 per cent drop in first-quarter net profit to HK$285.8 million (S$49.2 million), despite revenue for the three months to March 31 inching up 0.1 per cent to HK$2.95 billion from the preceding year.