CK Hutchison’s ports activities, the target of a partial asset takeover by the Aponte family and US interests, saw a 11.0% increase in sales in 2024, drawing level in US dollar terms with Singapore’s PSA International in the ranking of international port groups by revenue.
The development underlines the scope of the potential deal between the owners of MSC Mediterranean Shipping Company and the Chinese group, as port infrastructure arguably becomes the next battlefield in the fight for dominance in the container industry.
With global trade expected to continue to grow over the long term, carriers may be able to expand their fleets relatively easily as shown by the recent order boom, but the number of worldwide terminals available for use remains to all intents and purposes limited. Capacity of the global container vessel fleet has expanded sixfold in just 25 years, far in excess of the growth in ports which has been constrained by political, geographical and economic factors.
CK Hutchison’s non-Chinese assets, the subject of the sale, saw the biggest increase in revenue, EBITDA and throughput in the group during the year.
All 8 major international port groups with sales above $1bn reported an increase in throughput in 2024, with Dubai-based DP World logging the biggest gain. Volumes for DP’s global portfolio rose 8.3%, above the market average, to a new high of 88.3 Mteu. DP now ranks fourth in total container throughput worldwide after strong expansion in Asia-Pacific and the Americas during the year.
Source: Alphaliner
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