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MARC sees Northport incurring RM823m in capex over 3 years Giant Carey Island port in the works Bintulu Port awards RM14.19m stevedoring contract Kuantan Port ready to handle bauxite shipments Sabah Ports may need RM1.5b over 2 to 3 years, says RAM Ratings
 
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MARC sees Northport incurring RM823m in capex over 3 years

KUALA LUMPUR: Malaysian Rating Corporation (MARC) sees Northport (Malaysia) Bhd incurring over RM823mil in capital expenditure (capex) over the next three years to replace its equipment and repair existing infrastructure. It said on Tuesday that as at July 31, 2016, Northport’s interim finance-to-equity ratio (FER) stood at 0.35 times (January-July 2015: 0.33 times). Assuming the […]

End of the day: Several ships plying the Malacca Strait in the background as a couple takes in the sunset on a beach in Carey Island.

Giant Carey Island port in the works

PETALING JAYA: Northport. Westport. And next up is Carey Island, a massive port-industrial city project, with infrastructure investments of more than RM200bil covering an area of over 100sq km – more than twice the size of Putrajaya. This giant new port will also be able to handle more cargo than the two existing ports combined. […]

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Bintulu Port awards RM14.19m stevedoring contract

KUALA LUMPUR: Bintulu Port Holdings Bhd has awarded a RM14.19mil contract to Blessed General Contractor Sdn Bhd to provide stevedoring services. The ports operator said on Wenesday its units Bintulu Port Sdn Bhd had issued the letter of acceptance to the contractor to provide the services over 36 months. Howewer, it also had a clause […]

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Kuantan Port ready to handle bauxite shipments

KUANTAN: Kuantan Port Consortium Sdn Bhd (KPC) is ready to handle bauxite shipments if the government lifts the moratorium on mining in the state on Dec 31. “KPC has spent a lot of money on improving facilities to ensure the situation does not go back to what it was,” said chief executive officer Datuk Khasbullah […]

Sapangar Bay Container Port

Sabah Ports may need RM1.5b over 2 to 3 years, says RAM Ratings

KUALA LUMPUR: Sabah Ports Sdn Bhd may need up to RM1.5bil over the next two to three years to transform Sapangar Bay Container Port into a transshipment hub, says RAM Rating Services. The ratings agency said on Friday the plan, mooted by the state and federal governments, might boost Sabah Ports’ profile from a hinterland-based […]

Revenue up: Westports recorded higher revenue of RM474.4mil in the third quarter compared to RM400.8mil in the corresponding quarter last year.

Westports profit gets a lift

11 November 2016

Q3 earnings buoyed by higher container throughput, tariff revision PETALING JAYA: Westports Holdings Bhd’s net profit for the third quarter ended Sept 30 soared to RM151mil, reflecting a jump of 16.15% from a year ago buoyed by healthy container throughput growth and a revision in container tariff. According to Westports, container throughput increased by 9% […]

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CIMB Research retains Hold for Westports, ups target price

11 November 2016

KUALA LUMPUR: Westports Holdings nine-month to September 2016 core net profit was in-line at 77% of CIMB Equities Research’s forecasts. It said on Friday the factors for the 21% increase in core profits on-year were due to strong volume growth of 8% on-year and last November’s 15% gateway tariff hike. “While Westports is outperforming many […]

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Tan: ‘Over 20 of our rental revenue comes from the LME and for the storage of copper, zinc, and other commodities.’

PKFZ eyes RM80mil in rental revenue

10 November 2016

It expects to be fully-tenanted by next year PORT KLANG: The Port Klang Free Zone (PKFZ) will be fully-tenanted with an expected rental revenue of RM80mil per annum by next year, according to PKFZ chairman Datuk Tan Chong Seng. Tan was confident that by 2020, PKFZ would be able to hit its rental revenue target […]

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Investment, Industry and Commerce, Small and Medium Enterperises, and Transportation Committee Chairman Datuk Teng Chang Khim (right) listens to the explanation given by Northport Commercial Division Head M. Suresh Kumar over the issue.

Northport’s shipment backlogs to be cleared by tomorrow

14 May 2015

PORT KLANG: All operations at Northport, here, have returned to normalcy with shipment backlogs caused by technical delays expected to be cleared by tomorrow. During a working visit to Northport (Malaysia) Berhad by Investment, Industry and Commerce, Small and Medium Enterprises, and Transportation committee chairman Datuk Teng Chang Khim on Tuesday, the Northport management assured […]

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The Sungai Melaka conservation and beautification project has turned the lifeless river into a thriving waterway

Ships to come a-calling at Malacca Port again

05 September 2014

ONCE renowned the world over as a famed port in the Straits of Malacca, Malacca Port was not only a bustling port, but also the envy of many seafaring nations. The port, located near the mouth of Sungai Melaka, thrived in the 15th century under the Malacca Sultanate. It was considered the Venice of the […]

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Lauritzen: 'From our understanding, PTP will not need to expand that much in the future.' immediate future'.

Maersk: PTP terminal expansion capability not immediate concern

30 August 2014

Maersk Line, the world’s largest shipping line and also a major customer of Port of Tanjung Pelepas (PTP), is not too worried about the terminal expansion capability in the near future due to the reclamation works of the massive Forest City Project in Tanjung Kupang. Rumours are rife that PTP – a 70% subsidiary of […]

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Northport’s latest berth operational by November

25 August 2014

PORT KLANG: Upgrading work on Northport Bhd’s Wharf 16 is 56% complete and is on track to be fully operational by November this year, said NCB Holdings Bhd chairman, Tun Ahmad Sarji. He said Wharf 16 was one of Northport’s latest multi-purpose port facility which was undergoing upgrading work since March this year.NCB manages the […]

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‘Reclamation had no impact on Johor ports’

12 July 2014

The Johor Port Authority (JPA) has allayed fears that the recent coastal reclamation works along the Johor Strait will affect the navigation of vessels in the waterway. JPA general manager Muhammad Razif Ahmad said all port operations were going on as usual and no vessel operators have reported obstacles caused by reclamation work along the […]

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APM 2014

Maritime Industry Sailing Out Of Turbulent Waters

03 March 2014

Movers and Shakers of the Maritime Industry to Gather at Asia Pacific Maritime 2014   Kuala Lumpur, 12 February 2014 – The maritime industry has gone through challenging times in recent years but analysts are optimistic that things are stabilising as it is now entering calmer waters with Asia expected to continue as the main […]

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Inai Kiara seeks to grow international footprint

28 August 2013

Inai Kiara Sdn Bhd, the fifth largest dredging company in the world, is set to expand its international footprint, particularly in Africa, Europe and South America. The company is currently negotiating with several potential clients, particularly in Brazil and Argentina, said Inai Kiara general manager for business development, Zulkefli Majid. “We have to really support […]

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