Westports boss adamant CMA CGM loss is manageable

Kuala Lumpur: Damage limitation exercises continue for recently listed Westports, which suffered the ignominy of having key client, CMA CGM, announce a shift in port calls days after the Malaysian terminal had listed sending the share price southwards.

CMA CGM’s shift was announced as part of the new P3 Network sailing routes, which the French line is part of along with Maersk and MSC.

Westports ceo Ruben Emir Gnanalingam stressed to local media:  “I just want people to understand that the decrease in vessel calls does not equate to a decrease in volume.

“We could just strategise to increase the volume per call to mitigate this impact, which I expect to be very minimal and immaterial,’’ he told StarBiz.

CMA CGM contributed about 2.4m teu a year from Westports’ total of 6.9m teu last year.  [29/10/13]


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