Hutchinson Port Holdings said the trend among leading carriers to build larger container ships is a positive development for port businesses.

The Singapore-listed global port operator said ports stand to gain as carriers compete to reduce container slot costs by concentrating on building larger vessels, Seatrade Asia reports.

Hutchinson pointed to rising labor costs in China factories and the strong Chinese currency as propelling the move to deploy larger container ships, prompting shippers turn to more efficient production procedures.

Major international carriers like Maersk Line and NOL are building ultra-large box ships in the range of 13,900 to 18,000 TEUs.

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