Slowdown could hit mainland ports run by HK-listed firms
The growth in container shipments through the mainland's major foreign trading ports had slowed rapidly and could turn negative next year, affecting several Hong Kong-listed port operators, industry experts said.
'With the financial tsunami sweeping the world, growth at China's foreign trade container ports cooled to 10 per cent in the first 10 months of this year, compared with more than 20 per cent per annum in the past five years,' said a recent Citi report by Ally Ma and Brian Lam.
'Growth in September and October slowed sharply to 5 per cent, with ports servicing light manufacturing bases getting hit the hardest.'
The report said the downturn might continue to worsen in the fourth quarter.
It said container throughput at the major foreign trading ports might decrease in the first half of next year and only recover mildly in the second half, at the earliest.
