Westports launches IPO

Port Klang, which ranks 12th in CM’s World Top Container Ports saw volumes grow by only 0.4% in the first half of 2013, compared to average growth of 9.9% over the last 12 years. According to Alphaliner, the terminal faces significant competition amidst lower overall demand growth, and as carriers’ alliance re-alignments could lead to a consolidation of SE Asia volumes and put pressure on terminal tariffs.

Westport’s main Port Klang competitor Northport, which handled just over 3m teu in 2012, is gearing up for expansion and investing heavily in new handling equipment. It has six new twin-lift container gantry cranes on order for delivery by 2014. Four of these, with 24 across configuration and capable of handling ultra-large vessels, will be deployed on the new Wharf 8A facility, which has seen a berth extension of 350 m and a draught of 17 m, boosting handling capacity by around 600,000 teu.

In addition, the Port of Singapore (PSA) has unveiled plans to build a giant new port in Tuas in western Singapore with capability to handle up to 65m teu/annum — nearly double PSA’s current 35m teu capacity. It plans to consolidate all container port activities in Tuas in the long term, with the first set of berths expected to be operational in 2022.