A Chinese investment firm has completed one of the largest horticultural purchases in the history of Australia’s Northern Territory (NT). Hong Kong-based CK Hutchinson Holdings on Friday [23 November 2018 completed the purchase of two NT watermelon farms for 27.5 million Australian dollars (19.9 million U.S. dollars)…Full Article: Xinhua Nov 2018

Key Point

  • The two horticultural farms are located on 1,900 hectares near Mataranka, Northern Territory. As part of the deal, CK Hutchinson Holdings signed 10-year lease with Rombola Family Farms, a New South Wales-based rockmelon, citrus, and pumpkin producer.

ChinaAg Comments

  • In May 2016, COSCO Pacific, a subsidiary of China COSCO Shipping Corp, signed an agreement to purchase 35% of the terminal from ECT Participations BV, a subsidiary of CK Hutchison Holdings. Euromax Terminal Rotterdam is an automatic container terminal that has an annual capacity of 3.2 million twenty-foot equivalent units (TEUS). In 2015, the terminal processed 2.28 million TEUs.
  • In March 2014, Hutchison Port Holdings Trust (HPHT), a subsidiary of CK Hutchison Holdings, sold a 60% stake of Asia Container Terminals Holdings (ACT Holdings) for USD 318 million. HPHT sold 40% to Cosco Pacific and 20% to China Shipping Terminal Development (Hong Kong)
  • From March to May 2013, workers at Kwai Tsing Container Terminal (owned by Hutchison Port Holdings Trust, HPHT), Hong Kong, went on a strike for higher wages, which they received. The strike led some shipping lines to divert container traffic to other nearby ports such as in Shenzhen
  • With its business origins going back to 1828, CK Hutchison Holdings is a Hong Kong-based conglomerate that was established in 2015. Its business interests include ports, telecommunications, utilities (i.e. water, gas), finance, and retail.

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