Westports Holdings Berhad (“Westports” or the “Group”) has announced its interim financial results for the nine (9) months period ended 30th September 2016 (“9M2016”).
Operational revenue improved by 15% to RM1.3 billion when compared to the corresponding period in the preceding year as container operations contributed significantly to the Group’s improved financial performance.
Westports’ achieved another milestone by handling 7.4 million TEUs in 9M2016. Transhipment underpinned the favourable growth momentum while gateway containers complemented by posting higher volume as well. Westports continued to facilitate domestic economic activities as the volume of laden export containers increased by 5%. For the 9M2016 period, Westports contributed 76% to the total containers moved at Port Klang.
Conventional throughput in the 9M2016 increased by 10% to 8.5 million tonnes as Westports handled a higher volume of dry bulk commodities such as sugar and imported grains. Break bulk tonnages coming through the port, such as steel products and project cargoes, for domestic applications and economic activities have also increased. And liquid bulk raised its throughput by 21% with contribution from bunker operations.
Ruben Emir Gnanalingam, the Chief Executive Officer of Westports, commented, “Our above- industry average volume growth has been gratifying, and it reflected the results of our relentless commitment towards accommodating growing requirements from our customers. Westports has also benefited from shipping clients’ ad-hoc handling requirements as they introduced larger vessels into their existing container shipping services. The sustained high container volume growth and heavy terminal utilisation have triggered the need to commence with the CT9 Phase 1 expansion to meet the future requirements of our shipping customers. The CT9 Phase 1 expansion programme will entail the construction of the 600-metre wharf and additional Terminal Operating Equipment such as Ship-To-Shore Cranes and Rubber Tyred Gantry Cranes”.
“Westports has grown tremendously by supporting our shipping clients’ regional transhipment requirements. The impending realignment in the container shipping industry next year will result in lesser number of but significantly larger alliances. Westports has always been a supply-driven terminal that accommodates our clients’ requirements. To service these bigger alliances, we have completed our CT8 Phase 1 expansion, kept on schedule the CT8 Phase 2 construction work, and commenced on the latest CT9 Phase 1 container wharf”.