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.

Hong Kong Trends

Similar Posts by ChinaAg

Spread the word. Share this post!