The Singapore-listed trust saw net income fall to HKD 490.7m ($63.25m), while revenue for the quarter inched up 2% to HKD 3.4bn.

Operating costs were 5% higher on a year ago at HKD 1.3bn, while staff costs increased by 6% to HKD 77.1m.

Throughput of HPH Trust’s deep-water ports came in some 7% above last year’s level.

“Throughput growth of Yantian International Container Terminals (YICT) was mainly driven by transshipment and US cargoes," HPH Trust said.

“Hong