The Singapore-listed port trust posted net profit of HK$580.3m ($74.8m) in the second quarter, up 0.4% compared to HK$577.8m in the same period a year ago.

Revenue improved by 6.1% year-on-year to HK$3.11bn.

HPH Trust announced a distribution per unit (DPU) of 24.05 HK cents for the half year ended 30 June 2012.

The company's Hong Kong terminals saw container throughput increased by 8.3% year-on-year primarily due to the growth in transhipment cargoes. Container throughput from Yantian International Container Terminal rose by 4% due to the growth in transhipment and non-US or Europe trade cargoes.

“Container traffic growth continues globally but at a slower pace,” HPH Trust commented.

“After a long decline in 2011, shipping lines managed a progressive increase in freight rates on Far East-Europe and transpacific trades. Shipping lines continue to reduce costs by deploying more mega vessels, entering into more vessel sharing agreements and consolidating traffic in larger ports.”

Meanwhile, trustee-manager ceo-designate Gerry Yim Lui Fai will succeed ceo Hai Chi Yuet, who retired on 26 July. Hai will remain as adviser to the trustee manager.

http://www.turkishmaritime.com.tr/