PTP pens new contract, expects positive growth

The container port operator recently inked an agreement with French liner CMA CGM (CAM) and expects to handle 6.1 million TEUs (20 foot equivalent units) this year, up 9% from the 5.6 million TEUs handled in 2008.

PTP will provide container terminal services to CMA to handle some of its regional transshipment cargo which will be transshipped at PTP.
Prior to the signing of the agreement, CMA vessels have begun calling at PTP as a result of the Vessel Sharing Agreement (VSA) partnership between CMA and Maersk Line, said PTP.
"For now, the joint services under CMA and Maersk's VSA will contribute to approximately half a million TEUs of PTP's total annual throughput. Naturally, we expect to see an increase in the volumes from these services as the economy recovers and world trade picks up again", Datuk Mohd Sidik Shaik Osman chairman of PTP said.

"To support its transshipment operations at PTP, CMA's regional feeders will now need to call at PTP. This is seen as a positive development for PTP's feeder connectivity as the feeder operators expected to now call at PTP would further enhance the port's existing feeder operator network", an unnamed analyst was quoted in local media as saying.

Sidik said CMA's presence in PTP will enhance and further improve PTP's connectivity to other ports within the South East Asia and other major ports globally.

"The resulting enhanced connectivity of the port will contribute positively to our future annual throughput volumes," the PTP chairman said.