Westports Readies for New and Larger Shipping Alliances

Westports Holdings Berhad Malaysian port operator Westports Holdings Bhd said that the first phase of the expansion of its container terminal facilities has started operations with the addition of four new 52-metre high ship-to-shore cranes and six rubber tyred gantry cranes. When completed, the operators CT8 expansion project, which is expected to cost a total of MYR 1.1 billion (USD 270.6 million), would increase Westports’ total container terminal handling capacity to 13.5 million TEUs. The new facilities would feature an extended contiguous linear berth of 5.2 kilometers and will therefore be able to support requirements of new and larger shipping alliances from 2017 onwards, Westports chief executive officer, Ruben Emir Gnanalingam, said. The operator reported a 31 percent increase in its net profit for the second quarter ended June 30, due to a rise in container volumes. Namely, Westports net profit jumped during the three-month period to MYR 159.9 million (USD 39.3 million) from last years MYR 122.1 million (USD 30 million), while the ports net profit for the first half of 2016 went up by 37 percent or MYR 88.6 million when compared to 2015. During the first half of the year, Westports handled 4.9 million TEUs. The ports transhipment container volumes increased to 3.6 million TEUs, while gateway container numbers reached 1.3 million TEUs. Westports quarterly revenue climbed to MYR 522.6 million from MYR 405.3 million, bringing the total revenue for the first half of 2016 to MYR 987.3 million.