Westports Holdings Group has announced its interim financial results for the six-month period ended June 30, 2016, in which operational revenue improved by 15% to more than US$218 million when compared to the corresponding period in the year prior, with improved contributions especially from the container operations.
Westports’ container operations achieved another milestone by handling 4.9 million TEU in the H1, 2016.
Transhipment containers increased to 3.6 million TEU while the group handled 1.3 million TEU of gateway containers.
Westports continue to facilitate domestic manufacturing and economic activities as laden export containers increased by 5%, while Westports total volume constituted about 76% of Port Klang’s total container throughput in the H1, 2016.
Conventional throughput in H1, 2016 was 5.5 million tonnes as Westports handled items such as wheat, soy, sugar, steel products and project cargoes for domestic consumption and economic activities.
Ruben Emir Gnanalingam, CEO of Westports, said: “Our H1,2016 volume has been very encouraging and resilient, given the modest regional economic growth during the period as we achieved another milestone by handling our highest-ever interim container volume of 4.9 million TEU.
“Westports also benefited from accommodating our shipping clients’ ad-hoc handling requirements as they introduced larger vessels into their existing container shipping services.
“There will be realignment in the container shipping industry next year as key liners in existing container shipping alliances form new and different alliances next year. As a terminal operator, Westports will continue to support our shipping clients’ regional transhipment requirements with cost competitive, world-class productivity level of services and also expanding container terminal facilities.
“Our Phase 1 of CT8 expansion with 300-metre of wharf has commenced operations with the additional of four units of new state-of-the-art 52-metre high ship-to-shore cranes and six units of energy-efficient Rubber-Tyred Gantry cranes.
“The entire CT8 expansion will cost a total of RM1.1 billion and when completed, would raise Westports’ total container terminal handling capacity to 13.5 million TEUs with our extended contiguous linear berth of 5.2 kilometers, thereby allowing the Group to also support requirements of new and larger shipping alliances from 2017 onwards.”
Fact File: Westports Holdings Berhad was listed on the Main Market of Bursa Malaysia Securities Berhad on October 18, 2013 and is the largest listed port operator in Malaysia. Westports is strategically located in Port Klang along the Straits of Malacca. The company is involved in container and conventional cargo handling as well as providing a wide range of port services, including marine, rental and other ancillary services.