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Malaysia's Port of Tanjung Pelepas sets aside funds for more cranes in 2016

MALAYSIA's Port of Tanjung Pelepas' (PTP) capacity will rise to 15 million TEU in 2018 from today's 8.3 million TEU, according to PTP chief executive Glen Hilton.

Malaysia's Port of Tanjung Pelepas sets aside funds for more cranes in 2016
06 December 2015 - 21:01
Malaysia's Port of Tanjung Pelepas sets aside funds for more cranes in 2016

MALAYSIA's Port of Tanjung Pelepas' (PTP) capacity will rise to 15 million TEU in 2018 from today's 8.3 million TEU, according to PTP chief executive Glen Hilton.

MMC Corp Bhd's unit Pelabuhan Tanjung Pelepas Sdn Bhd (PTP) has allocated MYR500 million (US$117.7 million) in capital expenditure for 2016 for new equipment and repairs to the 15-year-old port.

Next year, said Mr Hilton, money would be spent on rubber-tyre gantry (RTG) cranes and quay cranes, reports Bernama news agency.

"This is in line with the growing transshipment industry, particularly in south east Asia. This equipment is expected to be delivered to us in the third quarter of next year," he told reporters during a media visit to PTP.

Mr Hilton said the intra-Asia sailing frequency per week stood at above 45 times, followed by Africa (13 times) and Europe or Mediterranean (11 times).

This year, PTP spent MYR300 million to purchase new equipment and facilities including 26 rubber tyre gantry (RTG) cranes in addition to the existing 174 RTGs.

Meanwhile, on PTP's 607.03 hectare free trade zone, Mr Hilton said the port was considering new land purchase or leveraging on MMC's landbank to grow its business.

"There's certainly a demand for free trade zone and this will be intensified through business relocation or start-ups," he said, adding the port was in discussions with several companies to build and develop the land.

There are 40 manufacturing and logistics companies operating in the area. As of 2014, the port had achieved 8.5 million TEU and it is expected to reach 9.2 million TEU by year-end.

Shipping alliances, in this case, Maersk and Mediterranean Shipping Company contributed more than 50 per cent to total PTT TEU volume.

Maersk Line is the sister company of APM Terminals, which in turn hold 30 per cent stake in the PTP.

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