Latest news with #HutchisonPortHoldings
Express Tribune
4 days ago
- Business
- Express Tribune
Stricter waste regulations at coasts, ports urged
Listen to article Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has issued a clarion call for urgent, coordinated action to combat plastic pollution and modernise Pakistan's maritime infrastructure. In a statement released on World Environment Day, the minister urged alignment of maritime policies with global climate goals to safeguard the country's over 1,000-km coastline and marine biodiversity. Highlighting the 2025 World Environment Day theme, "Beat Plastic Pollution," Chaudhry outlined the transition from a wasteful "take-make-dispose" economic model to a circular one focused on reuse, recycling, and sustainable alternatives. He noted that the ministry has already planted millions of mangrove saplings, which serve as natural barriers against pollution and vital nurseries for marine life. "Pakistan's Indus Delta hosts one of the world's largest mangrove ecosystems. Our restoration efforts, with support from local communities and international partners, are vital to coastal resilience," he said. The ministry is also working with port authorities and shipping stakeholders to enforce stricter waste regulations. In a separate engagement, Chaudhry addressed key figures from Pakistan's shipping industry at a dinner hosted by Aasim A Siddiqui, Managing Director of Pakistan Intermodal Limited. Stressing that over 90% of Pakistan's trade moves through seaports, he highlighted the sector's contribution of more than 10% to GDP and employment for over two million people. He noted that Karachi Port Trust alone can handle 125 million tonnes of cargo annually, and the shipping sector earned $235 million in revenue in 2023, largely from oil tankers. However, he warned that Pakistan still spends $68 billion annually on foreign freight charges and called for expanding local shipping capacities. A $1 billion fast-track investment initiative with Hutchison Port Holdings to upgrade Karachi's terminals was also discussed. Chaudhry assured stakeholders of continued collaboration and policy coordination to foster sustainable growth. The evening concluded with a shared commitment to strengthening Pakistan's maritime economy through environmental responsibility, investment, and innovation.
Business Insider
13-05-2025
- Business
- Business Insider
Analysts' Top Industrial Goods Picks: UMS Holdings (UMSSF), Hutchison Port Holdings (HCTPF)
There's a lot to be optimistic about in the Industrial Goods sector as 2 analysts just weighed in on UMS Holdings (UMSSF – Research Report) and Hutchison Port Holdings (HCTPF – Research Report) with bullish sentiments. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Hutchison Port Holdings (HCTPF) In a report released today, Paul Yong from DBS reiterated a Buy rating on Hutchison Port Holdings. The company's shares closed last Wednesday at $0.13. According to Yong is ranked #3509 out of 9527 analysts. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Hutchison Port Holdings with a $0.20 average price target.
Sharjah 24
29-04-2025
- Business
- Sharjah 24
Saud bin Saqr witnesses RAK Ports and Hutchison agreement signing
Speaking at the signing, His Highness Sheikh Saud emphasized that ports are an essential element of Ras Al Khaimah's logistical infrastructure, serving as vital gateways for trade and economic prosperity. He highlighted that the continued development of the Emirate's ports is critical to strengthening Ras Al Khaimah's global standing and ensuring future success and growth. The agreement reflects a shared vision for sustainable growth, increased competitiveness, and enhanced value creation for port users. Saqr Port boasts strong connectivity across the Arabian Gulf and has recently established direct container services with Mundra Port in India, one of the subcontinent's busiest trade gateways. Building on this momentum, the ongoing collaboration between RAK Ports and Hutchison Ports aims to unlock further connectivity across key Asian markets, reinforcing Saqr Port's role as a strategic trade enabler in the wider region. The agreement was signed by Roy Cummins, Chief Executive Officer of RAK Ports, and Andy Tsoi, Managing Director, Middle East and Africa, of Hutchison Port Holdings. Commenting on the extension, Roy Cummins said: 'The signing of this extension agreement underscores Ras Al Khaimah's commitment to enhancing its maritime and logistical capabilities, positioning the Emirate as a key gateway for regional and global trade. The agreement also reaffirms our confidence in Hutchison Ports as a strategic partner and in the transformative potential of Saqr Port as a catalyst for growth. Together, we are building the foundations for a new era of opportunity for our customers, stakeholders, and the wider Ras Al Khaimah economy.' The strengthened partnership between RAK Ports and Hutchison Port Holdings signals continued investment into the infrastructure needed to support Ras Al Khaimah's economic ambitions, driving future prosperity and regional leadership in global trade connectivity.
Yahoo
28-03-2025
- Business
- Yahoo
Beijing blocks sale of Panama Canal shipping terminals to US investor: Reports
CK Hutchison will not sign a deal as scheduled to sell its port operations near the Panama Canal to a U.S. investor and Swedish shipping line. The Hong Kong conglomerate (OTC: CKHUF) controlled by billionaire Li Ka-shing on March 4 announced an agreement to sell control of its Hutchison Port Holdings marine terminals outside China to a consortium of BlackRock (NYSE: BLK) and TiL, the terminals arm of Geneva-based shipping firm MSC, for $23 billion. The announcement set an April 2 deadline to finalize the transaction. The sale, which includes terminal operations at the ports of Balboa and Cristobal in Panama, followed public pressure from President Donald Trump, who has said the U.S. should retake control of the Panama Canal. But published reports, citing weeks of public opposition to the sale by China's government, indicate that the parties won't sign off as agreement has not been scrapped, according to reports in the South China Morning Post and Reuters. Earlier, Chinese authorities warned away state-owned firms from any new deals connected to Li and his family, Bloomberg reported. Find more articles by Stuart Chirls here. Port of Savannah sets record container, rail and truck moves in February Trump tariff fears plague ocean container rates Trade groups, businesses speak to both sides of proposed US port fees Port Authority of New York and New Jersey signs 33-year lease with APM Terminals The post Beijing blocks sale of Panama Canal shipping terminals to US investor: Reports appeared first on FreightWaves.
Egypt Independent
18-03-2025
- Business
- Egypt Independent
Egypt's consul-general in Hong Kong praises development of bilateral trade, economic relations
Consul-General of Egypt in Hong Kong Baher Sheweikhi praised the development of bilateral trade and economic ties over the past period. The Egyptian consul-general in Hong Kong said on Monday 17/3/2025, that Hutchison Port Holdings, headquartered in Hong Kong has pumped investments totaling $1.6 billion into Egypt in the field of developing and operating container terminals in the ports of Alexandria and Ain Sokhna. During a meeting held with Secretary for Transport and Logistics of the Hong Kong Special Administrative Region (HKSAR) Mable Chan, the consul general congratulated her on assuming her new post. The meeting shed light on Egypt's contribution to the export of double-decker public transport buses to Hong Kong, as the buses are exported by the Egyptian company MCV-eg to KMB Company in Hong Kong, Sheweikhi said. The meeting also addressed ways to diversify existing cooperation between the two sides, particularly in the fields of maritime and air transport and the management and operation of seaports, especially in light of Hong Kong's experience in this field; being a major hub for regional and global logistics operations and among the most efficient and busiest international container ports. The diplomat also reviewed Egypt's recent achievements in the field of developing and improving seaports that would enable attract more foreign investments, particularly from Hong Kong, referring to Hon Kong's efforts to open new markets in the Middle East and North Africa region. For her part, the minister of transport and logistics of Hong Kong praised existing cooperation between Egypt and Hong Kong, voicing keenness on enhancing cooperation in the fields of maritime and air transport to serve joint interests, in addition to benefiting from Hong Kong's expertise in managing and operating seaports.
