Hong Kong
Port has again proven itself to be resilient in
the face of changing regional market dynamics.
Hong Kong remains a vibrant and important market
for the world・s largest shipping lines who value
the port・s strategic location, free port status
and terminal operating efficiency. Modern Terminals・
growth in 2011 was negatively impacted by a reduction
in volume from one of our main customers due to
changes in their vessel deployments in both China
and the Pearl River. Despite this, our terminal
facilities in Hong Kong remain at high utilization
levels, and strong customer demand allowed us
to quickly back fill most of the lost volume.
Completing this effort to bring new business into
Modern Terminals to restore our market position
will continue into 2011 and be our top priority.
Major developments in our other Business Units
include Da Chan Bay Terminal One・s successful
completion of the :National Port Inspection;
process and achievement of :Full Port Opening;
status as announced by the Ministry of Transportation
in December. The delay in achieving this has
severely restricted our ability to enter the
market and we now look forward with enthusiasm
and confidence to strong growth starting next
year. Taicang International Gateway continues
to reach new levels of throughput with growth
across key market segments. We continue to expand
our business in the Domestic Shipping, International
Feeder, and Intra Asia markets strengthening
the port・s value proposition while creating
critical mass and positioning Taicang for expansion
to new markets and continued growth.
We should be especially proud of the progress
we have made in the area of Corporate Social
Responsibility (CSR). For the second consecutive
year, the HKQAA-HSBC CSR Advocate Mark was awarded
to our company for outstanding performance with
respect to putting CSR into operational practice.
It is also very encouraging to report we passed
the ISO14001 Environmental Management System
audit and renewed the Certificate with high
marks. Lastly, we have greatly expanded our
focus and effort on employee volunteer work
through the Modern Volunteer Force; supporting
our partner school, Cotton Spinners Association
Secondary School, and via a range of company-organized
activities with various charity organization
partners. I believe we are just beginning to
build momentum in our CSR programs and have
much more to contribute in this area. I want
to express my heart-felt appreciation to all
who contributed to our success.
As we near the year of our current company
vision, :2015;, we have been reviewing our progress
towards our clearly stated goals, as well as
discussing the extension of our vision and strategies
to plan for longer-term company goals.
The outlook for 2012 can only be described
as continued uncertainty given the unprecedented
nature of the challenges facing the global economy.
Despite the uncertainties in the market, we
are well-positioned to face the challenges.
I have full confidence that we have the right
people, capability and priorities to take on
2012!
Sean A. Kelly