Singapore feels the pinch from Tanjung Pelepas
Asian Shipper
The Port of Tanjung Pelepas (PTP) has been placed firmly on the map with rising throughput figures contrasting with a steep decline in container volume at the Port of Singapore.
In the first quarter of this year, Singapore saw a 13 per cent dip in container volume compared with the same period last year. The figure strongly indicates that PTP has been successful in its bid to win transshipment throughput from the lion city’s port.
PTP handled its millionth TEU on May 4 after 571 days of operation, and the Malaysian port expects to handle 2 million TEU by the end of this year. In contrast, Singapore saw container volumes fall 11 per cent year-on-year in January this year and 16 per cent in February. For the first quarter of 2001, the port saw volumes fall from 4,23 million TEU last year to 3.68 million TEU this year.
In a report on The Star web site, PTP’s Chief Executive Officer, Mohd Sidik Shaik Osman, attributed the rapid rise in throughput to Maersk Sealand’s recent move from Singapore to PTP. The shipping giant offers per year should it sever operations with Singapore. However, Mohd Sidik suggested that given the size of Singapore, the port will quickly recover and will coon experience high growth levels again.
Of the first 1 million TEU that PTP handled, 90 per cent were for transshipment, an area which will continue to be the fledgling port’s focus.