The results have been consistently good throughout the year. For the first nine months of the year, net profit rose 19% to MYR461.8m on revenue of MYR1.46bn.
The group's key container operations contributed significantly to the group’s improved financial performance. In the third quarter, container throughput rose 9% to 2.49m teu from 2.29m teu previously while for the first nine months, volumes rose 10% to 7.39m teu, notching up an all-time high in the process.
While transhipment underpinned the favourable growth momentum, gateway containers also added to the numbers by posting higher volume as well.
Westports maintained its dominance of Port Klang, moving 76% of the total containers moved. In terms of exports, the volume of laden export containers increased by 5%.
There was also good growth in non-containereised cargo. Westports said conventional throughput for the first nine months of the year increased by 10% to 8.5m tonnes as the operator handled a higher volume of dry bulk commodities such as sugar and imported grains.
Break bulk tonnages coming through the port, such as steel products and project cargoes, for domestic applications and economic activities have also increased, Westports noted. Meanwhile, liquid bulk throughput rose by 21% with contributions from bunker operations.
“Our above-industry average volume growth has been gratifying, and it reflected the results of our relentless commitment towards accommodating growing requirements from our customers. Westports has also benefited from shipping clients’ ad-hoc handling requirements as they introduced larger vessels into their existing container shipping services. The sustained high container volume growth and heavy terminal utilisation have triggered the need to commence with the CT9 Phase 1 expansion to meet the future requirements of our shipping customers," said Westports ceo Ruben Emir Gnanalingam.
He added that the expansion programme would entail the construction of a 600 m wharf and additional terminal operating equipment such as Ship-To-shore Cranes and Rubber Tyred Gantry Cranes.
“Westports has grown tremendously by supporting our shipping clients’ regional transhipment requirements. The impending realignment in the container shipping industry next year will result in lesser number of but significantly larger alliances," Gnanalingam said,
"To service these bigger alliances, we have completed our CT8 Phase 1 expansion, kept on schedule the CT8 Phase 2 construction work, and commenced on the latest CT9 Phase 1 container wharf," he concluded.
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