MALAYSIAN port and terminal operator Westport Holdings Bhd posted a 10 per cent year-on-year first quarter net profit increase of US$33.7 million, drawn on revenues of $107.6 million, which increased 11 per cent.
Container operations hit a record high of 794,600 TEU in March, supported by the increased capacity from the newly completed Container Terminal 7 (CT 7), reported the Malaysian Star.
Westports said the transshipment container volume surged 20 per cent, reflecting the positive contribution from the Ocean Three Alliance (O3) and other key customers of Westports.
O3 alliance members, CMA CGM, CSCL and UASC use Westports as their shipping hub in the region, noted the UK's Port Technology International.
"To cater for the increasing container volume, we have commenced on our CT8 expansion, which phase-one is expected to complete in early 2016 and phase-2 by mid-2017," said Westports CEO Ruben Emir Gnanalingam.
"Our container handling capacity will be increased from the current 11 million TEU to 13.5 million TEU by then," he said.
PORTS
04 May 2015 - 18:22
Westports quarterly profit up 10pc to US$33.7 million as sales rise 11pc
MALAYSIAN port and terminal operator Westport Holdings Bhd posted a 10 per cent year-on-year first quarter net profit increase of US$33.7 million, drawn on revenues of $107.6 million, which increased 11 per cent.
PORTS
04 May 2015 - 18:22
Westports quarterly profit up 10pc to US$33.7 million as sales rise 11pc
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