Johor port to handle 30% more boxes
The Straits Times Singapore
KUALA LUMPUR - The Port of Tanjung Pelepas (PTP) expects its container handling volume to rise 30 per cent to 2.5 million to 2.7 million 20-foot equivalent units (TEUs) this year, following Evergreen Marine Corp's transfer of its port of call to PTP from Singapore.
PTP chief executive Mohamed Sidik told Bernama news agency that the expected contribution from Evergreen is based on its annual handling of 1.2 million TEUs in the Singapore port.
'With the expected recovery in the economy this year, we are estimating that PTP will be handling at least 2.5 million TEUs and might even reach 2.7 million TEUs,' he said, adding that Evergreen is expected to begin its operations in PTP by the third quarter of this year.
The deal was the second major coup for the two-year-old port, following Danish giant Maersk Sealand's move two years ago from Singapore when it took a 30 per cent stake in PTP.
Singapore port operator PSA Corp said Evergreen's move would not have a significant impact on its financial performance, pointing out that PSA remained the world's No 1 container transshipment port.
But PTP is confident that it will become a major port in the region and give serious competition to Singapore in the next three to four years.
PSA Corp, however, is confident of achieving its 17 million TEUs throughput projections.