Penang Port upbeat on meeting volume target

Terminal operator Penang Port is confident of meeting its volume target of one million TEUs this year, based on its performance in the first five months of 2010, Business Times reported.

For the January-May period, the port handled 452,575 TEUs, up 32 percent from 342,763 TEUs recorded in the same period in 2009, according to chairman Hilmi Yahaya.

"With the figure achieved so far, we are confident of passing the one million TEU handling mark for the first time ever by the end of this year," he said.

Last year, Penang Port handled 958,476 TEUs, an increase of three percent from 929,639 TEUs in 2008, despite shipping companies and ports around the world being hit hard by the global economic downturn.

Hilmi Yahaya said the port also recorded another milestone in its history after handling a record 98,195 TEUs in May.

"The figure is the highest ever container-handling volume in a month in Penang Port's history," he said.
(Source:www.cargonewsasia.com)