(11th April 2007, Hong Kong: ) Hong Kong Air Cargo Terminals Limited (Hactl) today reported a slow down in volume growth in the first quarter, primarily a result of softening in demand in the U.S. and other major export markets. Volume handled in the first quarter was 576,877 tonnes, representing a mild increase of 0.1% against the same period last year.

The slow down in tonnage growth in the first quarter was primarily attributed to declines in export volume to the major markets : U.S (-1.1%), Europe (-1.4%), Japan (-4.1%), South Korea (-6.8%) and the Mainland (-2.0%).   Total export volume for the first quarter was 314,604 tonnes, representing a slight decline of 0.9% against the same period last year.

Import volumes grew marginally in the first quarter, with a year-on-year growth of 0.1% registered. Aggregate import volume for the first three months was 162,014 tonnes. Performance of intra-Asia trade, which accounted for over 60% of import volume, was weak, with a growth rate of only 0.2% registered in the first quarter.  Imports from the US and Europe declined by 0.3% and 0.9% respectively in the first quarter. On a brighter note, import volume from Japan grew 20.8%, offsetting some of the impacts of the declines in other markets.

"The slow down in cargo growth in the first quarter continued from the fourth quarter 2006.  Key markets of the U.S. and Europe continue to show weakness, and there is no sign of a rebound in growth rates in the short term,” said Lilian Chan, General Manager, Marketing & Customer Service.

The details of import, export and transshipment volume is tabulated below :