China's listed ports sector looks set to post a solid full-year performance despite the threat posed by Covid-19, a top Singapore analyst has predicted.
DBS Bank analyst Paul Yong has raised his full year earnings for Cosco Shipping Ports by 5%, China Merchants Port by 51% and Hutchison Port Holdings Trust (HPHT) by 33%.
"Year-to-date throughput volume growth for all three ports under our coverage have been impressive, ranging from mid-single digit to double-digit growth, which can be attributed to the successful containment of Covid-19 in China in the first half of the year," said Yong.
