The growth was achieved almost entirely by pulling Maersk Sealand away from Singapore in August 2000.

 

The Danish line, which took a 30% stake in the port, shifted its 2m teu a year southeast Asian transhipment hub from Singapore to PTP.

 

While this was a massive boost to the fledgling port, the move also left PTP in real danger of being labelled a ‘Maersk port’, with others reluctant to call through fear of playing second fiddle to the Danish line in operational terms.

 

PTP, however, embarked on an aggressive marketing bid to attract other lines and promote itself as a multi-user port.

 

This also fitted with Maersk Sealand’s parent company’s ambition to make APM Terminals a profit centre in its own right.

 

Although the initial focus was to attract smaller, regional carriers, it was the world’s number three in size, Evergreen, that followed Maersk Sealand.

 

A brief joint statement from Evergreen and PTP revealed nothing about the deal apart from the fact it had been signed on April 1.

 

Earlier statements by Chang Yung-Fa, Evergreen group chairman, said that the carrier stands to save NT$200m ($5.72m) on its annual volume of about 1.2m teu in Singapore.

 

Evergreen officials were reported as saying that lower costs and priority berthing were the main reasons behind the shift.

 

The Taiwanese line is only due to shift to PTP at the end of August after its long-term agreement with PSA Corp in Singapore expires.

 

The additional volume in those five months may just push PTP into the top 20 in 2002.

 

If it does not, its place is well assured in 2003.

 

It is unlikely that PTP will rest on its laurels even with Evergreen in place. The Taiwanese line’s 1.2m teu a year will still leave it operating at only about 70% of capacity by year-end. Because of both lack of space and the complexities of alliance arrangements, the port will not be able to attract either the Grand Alliance or the New World Alliance.
However, several other carriers could be on the cards — sources indicate it is aiming for at least one more customer by the year-end. Companies such as Mediterranean Shipping Co and United Arab Shipping Co would fit the profile of possible new customers.

 

The phenomenal success of PTP has not come without doubts from many within the industry. Even those close to the port and its customers question whether it is making any money from the Maersk deal. Profitable or not though, PTP has turned the southeast Asian container port industry on its head.