Vincent Wee

Vincent Wee

Hong Kong and SE Asia Correspondent, Seatrade Maritime News

Vincent Wee is Seatrade's Hong Kong correspondent covering Hong Kong and South China while also making use of his Malay language skills to cover the Malaysia and Indonesia markets. He has gained a keen insight and extensive knowledge of the offshore oil and gas markets gleaned while covering major rig builders and offshore supply vessel providers.

Vincent has been a journalist for over 15 years, spending the bulk of his career with Singapore's biggest business daily the Business Times, and covering shipping and logistics since 2007. Prior to that he spent several years working for Brunei's main English language daily as well as various other trade publications.

Westports Holdings saw second quarter net profit fall 7% MYR148.8m ($34.7m) from MYR159.9m a year ago due to lower container throughput from structural changes in the wider industry.

Port of Tanjung Pelepas (PTP) has filed a suit seeking MYR31.9m ($7.4m) plus interest for losses due to an oil spill at its premises from tanker Trident Star in August last year.

Dwell time at Indonesia's seaports has slid back to 3.6 days in the first half of 2017 from 2.9 days in late 2016, local reports said.

Malaysian ratings agency RAM Ratings has forecast that about MYR5bn ($1.2bn) would be needed over the next five years for the expansion of Kuantan Port, Sapangar Bay Container Port (SBCP) and Port of Tanjung Pelepas (PTP).

 Indonesian state-owned port operator Pelindo III is planning to diversify into non-port related sectors in efforts to boost revenue, local media reported.

Cosco Shipping Ports (CSP) continues with its good performance with overall throughput rising 14% in June to 7.4m teu from 6.5m teu in the previous corresponding period.

As a higher base effect started to kick in, throughput at the port of Hong Kong slowed dramatically in June, with overall volumes almost flat at 1.66m teu and rising by just a couple of tens of thousands of containers from the previous corresponding period.

Global ports player DP World has signed an agreement to advise on the development of the Kuala Tanjung greenfield port and logistics zone and Belawan port in North Sumatra, Indonesia.

China International Marine Containers (CIMC) says it expects to turn a net profit of between RMB700m ($103.4m) to RMB900m compared to a net loss of RMB378m in the previous corresponding period.

China Merchants Port Holdings announced that it is expecting to post an increase in first half net profit of more than 50% from the same period last year.

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