Kuala Lumpur: Malaysian line MISC Berhad has terminated its joint venture with the operator of the Port of Tanjung Pelepas, Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), following the line's withdrawl from the Grand Alliance effective January 1 2010.
The jv, PTP-MISC Terminal Sdn Bhd, had been inked in April 2008 with the aim that MISC and other members of the alliance - Hapag-Lloyd, NYK and OOCL - should help develop the Malaysian port into the region's main transhipment hub. Instead, Tanjung Pelepas now faces an uphill struggle to
attract significant extra liner clients at a time when nearby Port of Singapore is enjoying something of a renaissance as the world's busiest container port.
Despite the rescinding of the jv, Petronas subsidiary MISC will continue to use Port of Tanjung Pelepas in Johor via a direct Terminal Services Agreement with PTP. [18/12/09]
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