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Chitchat Chinkland Shipping Cos Abandon Mudland Ports In Drove For Singapore! Majulah PAP!

Discussion in 'The Courtyard Café' started by JohnTan, Sep 12, 2017.

  1. JohnTan

    JohnTan Alfrescian (InfP) Old Timer

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    [​IMG]

    Business at Malaysia's main shipping hub in Port Klang has taken a hit this year as major shipping companies shift their operations to Singapore under new alliance agreements, industry officials say.

    This has raised questions over the aggressive plans by Kuala Lumpur to build new harbours and rail links along the Strait of Malacca, one of the world's busiest maritime trade routes.

    Many of these are partnerships with Beijing, yet the Ocean Alliance - which includes state-owned China Cosco Shipping, the world's fourth-largest player - made a huge shift from Klang to PSA Singapore's terminal in April. The Straits Times understands that this has added to concerns in the industry over China's commitment to supporting the logistics industry in Malaysia.


    Beijing and Kuala Lumpur had been talking up joint transport infrastructure in Malaysia, such as last month's launch of the RM55 billion (S$17.6 billion) East Coast Rail Link to be built and financed by China. The project will link Port Klang to Kuantan Port which faces the South China Sea, in what Prime Minister Najib Razak called an "alternative trade route" to Singapore.

    "Only Kuantan Port has Chinese equity so far because it also aids Beijing's South China Sea claims. Other infrastructure plans have either not taken off or are only loans, or worse, just Chinese companies winning construction deals," former Port Klang Authority chairman Lee Hwa Beng told The Straits Times.

    Data compiled from Northport and Westports, the two operators in Klang, showed that after nearly four years of increasing loads, cargo throughput was down a sharp 8.4 per cent in the second quarter of this year to 3 million twenty-foot equivalent units (TEU). This followed a flat first quarter of 0.9 per cent growth.

    Westports, which controls three- quarters of Klang's total capacity, "is now conservatively guiding 2017 volume may decline 7-12 per cent", and next year's prospects remain "murky", according to UOB-Kay Hian's analyst Kong Ho Meng.


    The new alliance agreements' biggest impact on Klang was the loss of transshipment volumes - goods stored before being shipped to their final destination - from giants United Arab Shipping Company (UASC) and France's CMA CGM. This could total up to 2 million TEU annually. UASC has now merged with Germany's Hapag-Lloyd, making it part of THE Alliance, while CMA CGM is the biggest company in the rival Ocean Alliance.

    Both groups, which handle nearly half the world's shipping capacity, started realigning in April, resulting in more than half of Klang's Asia-Europe calls being shifted to Singapore, said industry officials.

    CMA CGM and Cosco have naturally gravitated to Singapore as both have major investments there. PSA saw a 9.6 per cent jump in the second quarter to 8.5 million TEU.

    Among the world's top 20 ports, Klang was one of only two, the other being Tanjung Pelepas on the south coast of Johor, to see a drop in volume in the first half of this year.

    The slowdown added to concerns of oversupply due to plans for new China-backed megaports like the RM43 billion Melaka Gateway and on Carey Island, which sits just off Klang. Both government and industry sources told The Straits Times that Chinese companies earmarked to take a stake in these two projects have had reservations over their viability. The planned port for Carey Island now has an Indian partner, with its mooted valued halved to RM100 billion.

    Surprisingly, the government last month gave Westports permission to double its capacity to 30 million TEU - which is as much as what PSA handled last year - despite its volume shrinking in the year to date.

    "We are still unsure of the need for the group to expand its capacity to the level mentioned as the talk of a third port in Klang is gaining traction," said Hong Leong Investment Bank's analyst Lim Sin Kiat.

    Still, the Malaysian government is insisting that cargo volumes are set to rise as the country strengthens connectivity with southern Thailand and Sumatra across the Strait of Malacca.

    "Only the transshipment volume came down a bit but our local volume increased. We can see a strong growth in Malaysia, especially our economic production," Transport Minister Liow Tiong Lai said last Monday. He added that "we have a very good relationship" with Cosco, which is "confident about Malaysia", and played down as an "internal working operations issue" the fast-expanding firm's investment in container berths in Singapore.

    http://www.straitstimes.com/asia/se-asia/port-klang-business-hit-as-key-firms-shift-operations
     
  2. Leongsam

    Leongsam Administrator Staff Member Old Timer Old Timer

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    This is thanks to the PAP. That's why I continue to maintain that the PAP is the best!
     
  3. Pek Kim Lui

    Pek Kim Lui Alfrescian Old Timer

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    corruptions along the way killed them all........ gorillas do, monkeys follow
     
  4. congo9

    congo9 Alfrescian Old Timer

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    When you are always mixing with the corrupted business people, it is always easier to get things done. I am suddenly very curious why the 3rd World corrupt Nation is suddenly so sick of corruption and prefer high cost Singapore ? Will they be able to accustomed to it ?
     
  5. Pek Kim Lui

    Pek Kim Lui Alfrescian Old Timer

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    in RI every passing thru Tanjong priok pay custom chief grease
     
  6. syed putra

    syed putra Alfrescian Old Timer

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    Singapore is 150 years ahead of any other port in south east asia. None can beat the location and support services in the form of bunkering, msintenance, legal, manning, finance,.....
     
  7. Rogue Trader

    Rogue Trader Alfrescian (Inf)

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    All the things you said can easily be undone by one undetected dirty bomb in a container. That's why PSA invests millions in state of art security technology
     
  8. mojito

    mojito Alfrescian Old Timer

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    With the PAP in charge, there is nothing for you to worry about! :)
     
  9. eatshitndie

    eatshitndie Alfrescian (Inf)

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    there's also the added benefit of whorehouses ferrying hookers to ships docked at sea instead of having crew go on land to visit geylang. one stop shop and fuck. very efficient and cheap too.
     
  10. eatshitndie

    eatshitndie Alfrescian (Inf)

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    this one pic will tell you why sg is popular for the world's empty merchant ships and oil tankers to park off the coast of sg. it's a million dollar view from tuas to changi for condos on the east and west coast, and why not share the view simply by parking an empty ship there at pennies to a dollar. moreover, the ships require jaga, bunkering and maintenance - jobs that mainly go to mudlaysians who cross the border daily at jb. it's a win-win for local marine businesses and international merchant shipping companies as everything can be found in sg, from supplies to sights to sex. kling klang klung? a little too boring. ;)

    IMG_0167.JPG
     

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