Hutchison Whampoa’s ports division boosted profits by 14 percent last year despite flat volume growth across its global terminal network.
Total revenue rose 12 percent in 2011 compared to a year earlier to HK$32.5 billion (US$4.2 billion), while earnings before interest, taxes, depreciation and amortization increased 14 percent to $1.5 billion on a like-for-like basis.
After excluding the impact of the loss of 3.3 million 20-equivalent units of throughput from the cessation of container handling at Shanghai Container Terminal from January 2011, Hutchison Port Holdings saw volumes handled at its 52 terminals increase 5 percent year-over-year in 2011 to 75.1 million TEUs.
In the second half of 2011, the ports division started commercial operation of two new deep-water berths in the Port of Felixstowe and won a 10-year concession to operate four berths at Ajman Port in the United Arab Emirates.
This year and 2013 will see operating berths expand from 269 to 275 as additional facilities are opened in Barcelona, Spain; Brisbane, Australia; Huizhou, China; and Kelang, Malaysia.
The green field port in Brisbane will start operations in this year's fourth quarter, the company said in a statement.
“In addition to the six new berths to be opened in 2012, nine berths are expected to come into operation in 2013, including two berths from the division’s green-field port in Sydney, Australia,” it said.