Hutchison draws level with PSA on revenues

There might be a 12m teu gap between them, but old rivals Hutchison Ports and PSA International are neck and neck when it comes to revenues these days, helping explain what a canny potential deal BlackRock and Mediterranean Shipping Co (MSC) have carved out for themselves.

The latest data from Alphaliner covering the world’s largest global terminal operators shows Hong Kong-based Hutchison Ports’ revenue leapt 11% last year to draw level with Singapore’s PSA International, despite moving far fewer boxes. 

BlackRock and MSC have made a $22.8bn bid to take over all of Hutchison Ports’ non-Chinese assets, the largest port deal in history, one which has yet to go through with fierce opposition coming from China. 

Alphaliner suggested in its latest weekly report that port infrastructure has become the “next battlefield in the fight for dominance” in the container industry as the world containership fleet was growing very rapidly, while there were only a finite number of terminals available.

After booming consumer demand in 2024, six out of eight leading global port groups increased their revenue by double-digit figures in 2024. Only COSCO and China Merchants saw gains in the single digits. The two Chinese groups continue to top the list of port groups by throughput.