Hutchison Port Holdings Trust handled a total of 22.5 million TEUs across its terminals in the Pearl River Delta in 2016, according to results released by the company.

2016’s throughput was 6% lower than that of 2015.

Even though traffic to the EU and the US grew faster than in 2015, HPH’s Yantian International Container Terminals was affected by the decrease in empty containers and transhipment.

HPH Trust’s Hongkong International Terminals Limited, COSCO-HIT Terminals (Hong Kong) Limited and Asia Container Terminals Limited, which signed a co-management agreement in December 2016, handled 8% fewer containers than 2015 because of weaker intra-Asia trade and less transhipment cargo.

Revenue for the year fell 6% year-on-year to HK$11.9 billion (US$1.53 billion), while net profit fell 3% to HK$2.95 billion (US$380 million).

In the year ahead, HPH Trust said that there was a high level of uncertainty as to how the policy stance of the new US administration would affect US and global trade, while weak consumer sentiment and high unemployment will hinder the recovery of European trade in 2017.

Structural consolidation within the shipping industry will also have an impact on transhipment volumes.

Management remains cautious about the expected cargo volume in 2017 and will continue to control costs by improving productivity and efficiency, according to HPH Trust.