The Straits of Malacca is undeniably critical to the shipping industry and major ports along the 500-mile waterway are currently competing stiffly, ramping up their capacities this year, riding on the hope of world economic recovery.
Malaysian ports have been producing quite a good set of financial results even during challenging economic environment a few years ago.
It is thus interesting to look at the plans these terminals have for expansion and competition as there will be a huge amount of capacity coming onstream from this year onwards. All that will change the dynamics of these ports.
The container handling performance by Malaysian ports showed a growth 2.82% or an increase of 569,252 twenty-foot equivalent units (TEUs) last year to a total 20.8 million TEUs.
The ports contributed a total trade of nearly a trillion ringgit annually for the nation. Basically, there are two types of boxes handled at Malaysian ports local containers from the hinterland and transhipment containers which are cargo from outside the country that use the terminals as a distribution hub.
Read more: Major ports ramping up capacities
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