Freight growth through airport weakens to 4pc
The rate of growth in cargo shipments through Hong Kong International Airport slowed last month, reflecting weaker demand in key export markets and seasonal trade patterns.
Hong Kong Air Cargo Terminals (Hactl), which controls about 80 per cent of the airport's air cargo market, said growth last month slowed to 4 per cent or 206,110 tonnes from levels a year ago, for first-half growth of 5.8 per cent.
'Clearly we saw growth slow from the first quarter to the second quarter,' Hactl spokeswoman Lilian Chan said.
With global interest rates still climbing, 'we would expect this trend of reduced export growth to continue', she added. 'We are expecting an annual growth rate of below 5 per cent this year.'
Hactl handled 618,384 tonnes of cargo in the second quarter, up 3.7 per cent year on year and 1.19 million tonnes in the first six months.
Nelson Lee, general manager, planning and services for Asia Airfreight Terminal, the airport's No2 operator, said business had also slowed, though he said it was 'a seasonal effect ... June is usually a slow month'.
