Westports improves 2015 results, handles record container volumes

Kuala Lumpur-listed Westports announced a profit before tax of MYR650m ($153m) for 2015, an increase of 12% compared to the previous financial year.

The group’s operational revenue rose by 5% year-on-year to MYR1.58bn due mainly to contributions from both the container and conventional operations.

Westports’ container operations handled a record 2.34m teu during the fourth quarter of 2015, helping to lift its annual volumes to an all-time high of 9.05m teu, exceeding the 2014 throughput of 8.37m teu, which was then also a record volume.

For 2015, transhipment containers grew by 11% year-on-year to 6.56m teu while gateway containers increased to 2.49m teu.

Conventional throughput last year was 10.23m tonnes as Westports handled cement, breakbulk items such as steel billets and coils, dry bulk and project cargoes.

Ruben Emir Gnanalingnam, ceo of Westports, commented: “The group has achieved another record-breaking year despite increasing economic headwinds as the year unfolded.”

Looking into 2016, he shared that Westports has commenced expansion work on Container Terminal 8 (CT8) in January and construction of the 300-metre wharf under phase one has just been completed.

“Equipped with state-of-the-art ship-to-shore cranes and energy efficient container terminal handling equipment, phase one will commence operations by middle of 2016,” he said.

“The total investment in CT8, consisting of phase one and phase two, is more than MYR1bn and when it is fully completed, the total container handling capacity would be increased to 13.5m teu per year.”

Westports is located in Port Klang along the Malacca Straits and is the largest listed port operator in Malaysia.