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Port of Tanjung Pelepas records 8% growth in 2020

Port of Tanjung Pelepas_IFM_Image
The port invested $170 mn last year to improve its container handling capacity

The Port of Tanjung Pelepas in Malaysia recorded growth of around 8 percent last year, media reports said. The port handled 9.8 million teu as transhipment demand climbed despite the coronavirus pandemic and global economic uncertainties.

Marco Neelsen, chief executive at Port of Tanjung Pelepas told the media, “Despite some challenges during Q2 of FY2020, the second half of the year went very positive for PTP with an upsurge of volume due to the opening of countries’ borders and the reviving of the global trade economy for China, trans-Pacific and Europe regions.”

“Port of Tanjung Pelepas’s readiness and proactive drive to handle these demands have definitely cushioned the downside scenario and impact of sluggish global trade saw earlier as a result of Covid-19 outbreak and the measures taken by countries to halt the pandemic.”

It is reported that there was a surge in transhipment call volume due to increased demand in Asia and Europe. Last year, the port invested $170 million last to improve its container handling capacity, capability and reliability.

Container cargo rollovers at the world’s top 20 ports increased by around 75 percent in the month of December last year compared to the previous month, according to Ocean Insights. This is mainly due to the fact that lines struggled with the surge in volume and equipment shortages.

According to Ocean Insights, average rollover rates at ports increased to 37 percent during the period, reaching almost 50 percent in some specific locations as well. These figures highlights the fact that demand almost dried up during the first half of 2020, due to the coronavirus pandemic, however, it picked up rapidly during the second half of the year.

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