{"id":34291,"date":"2023-07-13T11:29:25","date_gmt":"2023-07-13T08:29:25","guid":{"rendered":"https:\/\/www.al-sindbad.net\/psa-shelves-hutchison-stake-sale\/34291\/"},"modified":"2023-07-13T11:29:25","modified_gmt":"2023-07-13T08:29:25","slug":"psa-shelves-hutchison-stake-sale","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/psa-shelves-hutchison-stake-sale\/34291\/","title":{"rendered":"PSA shelves Hutchison stake sale\u00a0"},"content":{"rendered":"<p><\/p>\n<div class=\"entry-content entry clearfix\">\n<div class=\"mailmunch-forms-before-post\" style=\"display: none !important;\"><\/div>\n<p>The global economy might have passed its peak ports moment.\u00a0<\/p>\n<p><em>Bloomberg<\/em> is reporting Singaporean terminal operator PSA International has ditched plans to sell its 20% stake in Hutchison Ports with limited interest unwilling to fork out the $4bn PSA was after.\u00a0PSA bought the stake in 2006 for $4.4bn.<\/p>\n<p>PSA has declined to comment on the decision to shelve the sale, which reportedly drew interest from Beijing in the form of COSCO and China Merchants<\/p>\n<p>PSA is the world\u2019s largest container terminal operator, with Hutchison ranking in sixth place according to data from UK consultants Drewry.<\/p>\n<div class=\"mailmunch-forms-in-post-middle\" style=\"display: none !important;\"><\/div>\n<p>A recent Drewry report pointed to an increased fear of recession, higher inflation and rising interest rates hitting investor sentiment in ports.\u00a0<\/p>\n<p>Lower container volumes and increasing manpower costs have hit margins for most industry participants, Drewry warned.\u00a0<\/p>\n<div class=\"mailmunch-forms-after-post\" style=\"display: none !important;\"><\/div>\n<div class=\"stream-item stream-item-below-post-content\">\n<div class=\"stream-item-size\" style=\"\">\n\t    <!-- \/91333190\/SPLASH247_*_Splash247_Article_*_Strip_Slot_*_2 --><\/p>\n<div id=\"div-gpt-ad-1_95_0_1_2\">\n<script>\ngoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); });\n<\/script>\n<\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"post-bottom-meta post-bottom-tags post-tags-modern\">\n<div class=\"post-bottom-meta-title\"><span class=\"tie-icon-tags\" aria-hidden=\"true\"><\/span> Tags<\/div>\n<p><span class=\"tagcloud\"><a href=\"https:\/\/splash247.com\/tag\/hong-kong\/\" rel=\"tag\">Hong Kong<\/a> <a href=\"https:\/\/splash247.com\/tag\/singapore\/\" rel=\"tag\">Singapore<\/a><\/span><\/div>\n<\/p><\/div>\n<p>splash247<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The global economy might have passed its peak ports moment.\u00a0 Bloomberg is reporting Singaporean terminal operator PSA International has ditched plans to sell its 20% stake in Hutchison Ports with limited interest unwilling to fork out the $4bn PSA was after.\u00a0PSA bought the stake in 2006 for $4.4bn. PSA has declined to comment on the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":34292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[],"class_list":["post-34291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-port-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/34291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=34291"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/34291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/34292"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=34291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=34291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=34291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}