Given Hutchison Ports’ diverse and balanced global portfolio, we have been able to achieve satisfactory results in 2018 despite volume fluctuations with individual business units due to a change in local competitive landscapes; notwithstanding with the recent geopolitical headwinds and trade negotiations between countries that are sending jitters through markets across the world.
As part of our strategy to diversify into new sectors of shipping we have expanded our presence in the non-containerised and breakbulk sectors in Amsterdam extending our reach further into Northern Europe. You will read all about it in this edition of the magazine.
You will also learn about how we are continuing to increase our presence in the hinterland logistics sector where we now handle more than 1.5 million TEU a year via rail globally and we will look to further develop our landside networks with excellent potential. We will introduce innovative logistics solutions such as EGS (Europe Gateway Services) in Rotterdam that is providing road, rail and barge connections to ports throughout Europe.
With our diverse network of ports and logistics businesses, we are moving into a much stronger position to capitalise on new opportunities in ports and other sectors with excellent potential.
The container shipping sector went through some fluctuations this year. Because of varying demand, the carriers are managing carefully their capacity on the trade lanes and controlling costs in a competitive market. The carriers are continuing to put pressure on their vendors and we, as a terminal operator, must improve our own cost efficiency to meet increasing customer demand. This situation is likely to continue into next year, we need to make cost management our priority.
Lastly, I would like to thank everyone for their hard work this year and look forward to working closely with you to take on new challenges in 2019.