Now PTP courts PSA
Fairplay Shipping Weekly
MALAYSIA’S Port of Tanjung Pelepas (PTP) has floated the prospect of co-operation with neighbouring Singapore to put up a joint front in the face of global challenges.
"We are inviting them to ponder ways and means for Singapore and PTP to co-operate for mutual benefit," Mohd Sidik Shaik Osman PTP’s CEO told a visiting delegation of Singapore’s Administrative Service. The remarks are significant given that PTP’s drive to access regional container transhipment volumes brings it into direct competition with Singapore’s PSA. Last year, PTP weaned giant container line Maersk Sealand away from Singapore with a 30 per cent equity offer. But PTP is seeking fresh capital in order to employ its land resources.
Touching on PTP’s expansion plans during the Singaporeans’ visit, Mohd Sidik noted that PTP needs joint-venture partners and investors to "jump-start" land development. "This will make both our countries stronger in facing increasing global challenges and new patterns in ports and shipping," he observed.
23/August/2001 - Fairplay International Shipping Weekly