A low base of comparison last year and a weakening US dollar helped Cosco-HIT Terminals post a 36 per cent increase in cargo throughput last month.
The Kwai Chung terminal operator also recorded a 39 per cent rise in September, the largest year-on-year rise since the terminal was put into operation, said Cosco Pacific managing director Sun Jiakang, who did not provide any figures.
Cosco-HIT Terminals is a joint venture between Cosco Pacific and Hutchison Whampoa.
'As you know, exports were affected after September 11 last year. October [last year] remained quiet,' Mr Sun said yesterday.
Apart from the low base, he attributed the growth to the weakening US dollar as Hong Kong and mainland exports became cheaper.
'The world economy is weak this year. The US dollar is weak against the euro and other currencies. The Hong Kong dollar is pegged to the greenback, as is the yuan. A weakening US dollar gives Hong Kong and the mainland an opportunity by making exports cheaper,' he said.
