Analyst Pin-board: HAH business update
HAH’s port operations are having a tough time because the firm is losing market share to the downstream ports in Haiphong. Main reasons: (1) unfavorable position on the Cam River, (2) only one berth makes it difficult to arrange schedules. As a result, international containers’ proportion in total containers throughput of this port has declined from 73% (2014) to 46% (2017). As the price for international containers handling services is higher than domestic containers, change in this ratio also results in a reduction in GPM.
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