Westports plays down P3 impact

Kuala Lumpur: Westports Holdings has played down the chances of a drop in throughput following the creation of the P3 alliance, comprising CMA CGM Group, Maersk Line and Mediterranean Shipping Co.

The alliance is still pending approval from the European Union, China and South Korea. 

"The reduced capacity after the P3 alliance come into service is less than 5% while we are expecting cargo handling to grow by 5% to 10% or between 350,000 and 700,000 teu this year," Westports chief executive officer Ruben Emir Gnanalingam said at the company’s AGM yesterday.

Local estimates suggest 200,000 teu will shift from Westports to Tanjung Pelepas Port in Johor or PSA in Singapore once the P3 alliance commences operation. [01/05/14]

Related Posts