Port Klang's main terminal operator, Westports Holdings, has posted a 2.4 per cent increase in year-on-year second quarter net profits to MYR122.5 million (US$35.4 million), drawn on revenues of MYR409 million, up 1.9 per cent, according to Shipping Gazette.
Profits were buoyed by an increase in container throughput at its terminal located in Pulau Indah. Quarterly container throughput was up 14 per cent to 2.09 million TEU.
For first half, a robust container segment, together with the termination of a management service agreement and lower taxes supported growth in net profit that soared to MYR231.5 million against MYR198.4 million in the corresponding period of last year.
First half revenue was up 2.9 per cent to MYR772.2 million from MYR750.1 million.
Total container throughput in the first half of the year surged 12.9 per cent to 4.02 million TEU, led by transshipment boxes, which rose 13.9 per cent, and gateway, which expanded by 10.5 per cent compared to the same period last year.
The exceptionally strong growth in container throughput was driven by positive growth from all major trade lanes.
Intra-Asia, the largest contributor to Westports' total container throughput, grew at a faster-than-expected pace of 12.9 per cent in the first half of this year.
"The capacity expansion of Container Terminal 7 is well-positioned to capitalise on the rising container throughput, as we expect the strong momentum to persist for the remainder of the year," said Westports CEO Ruben Emir Gnanalingam.
"The prospects for 2014 remain encouraging, supported by continuous growth from the global and domestic economies," he said.
Westports yet again set a new world record for container terminal productivity on June 12, notching an impressive 793 moves per hour, reported the Malaysia Star.
The feat was achieved while working on CSCL's 9,572-TEU-Le Havre. Westports was the previous record holder with 734 moves per hour in 2011," said the report