Westports Marks Double-Digit Container Volume Growth
- Business & Finance
Malaysian port operator Westports Holdings Berhad saw a 17% increase in container throughput at its Port Klang in the quarter ended March 31, due to added handling capacity and a surge in the transhipment throughput.
Westports handled 2.26 million TEUs in the first quarter of 2015 , with the 20% increase in throughput volumes, reflecting, among others, the positive contribution from the Ocean Three Alliance (O3) which uses Westports as their shipping hub in this region.
Westports also handled all-time high 794,600 TEUs in March 2015, supported by the increased capacity from the newly completed Container Terminal 7.
Increased container volumes generated a 11% spike in Westports’ operational revenue, which stood at RM 387 million (USD 107.5m). The group’s profit after tax increased by 10% to RM 120 million.
”The year started on a very positive note as we achieved a remarkable container throughput growth of 17% in the 1st Quarter of 2015,” Ruben Emir Gnanalingam, the Chief Executive Officer of Westports, said.
”To cater for the increasing container volume, we have commenced on our Container Terminal 8 expansion, which phase-one is expected to complete in early 2016 and phase-2 by mid-2017. Our container handling capacity will be increased from the current 11 million TEU to 13.5 million TEUs by then.”