eyefortransport reported that a major expansion project at Westport’s containerterminal is set to increase the Malaysian port’s capacity in response to volume increases averaging15% per year.
According to executive chairman, Tan Sri Gnanalingam, construction work onWestport’s latest container terminal, CT4, is progressing rapidly. On completion, CT4 will have awharf length of 600 metres and 24 hectares of yard space. Westport handled 2.55 million TEU lastyear, and is aiming for 3 million TEU this year, although the port’s actual current handlingcapacity is 6 million TEU. With more investments to expand facilities, Gnanalingham says Westportcould handle over 10 million TEU.
Westport’s growth has been spurred by recent sealed deals including afifteen-year agreement making Westport the key Asian transhipment hub for French liner, CMA-CGM;China Shipping Container Lines moving its regional headquarters from Singapore to Port Klang;Norasia selecting Westport as its largest hub in Asia; and Gold Star’s acquisition of another linethat will become the fourth shipping line to make Westport its hub. Gnanalingam also said that twonew shipping lines will be joining Westport – Argentina’s Maruba and Australia’s ANL. WestportMalaysia expects earnings for 2005 to hit RM100 million, up 11% from last year’s RM90 million, onforecasted revenues of RM600 million, up 20% from last year’s RM500 million.
