MTT Shipping Looks To Purchase Two More Vessels For West-East Malaysian Trade

MTT Shipping Sdn Bhd is looking to acquire two more vessels to be deployed in the West-East Malaysian trade, adding to the five in its current operations.
A two-year shipping entity, MTT Shipping recently acquired its fifth vessel, the US$6.2 million M.V. MTT Port Klang, a 1,200 twenty-foot equivalent unit (TEU) container vessel.
MTT Shipping Managing Director, Ooi Lean Hin said the planned acquisitions are still in the planning stage, and the two new vessels are expected to be similar to the fifth just purchased.
"We are looking at modern and more economical vessels, which will be reflected in our balance sheet and operating costs. We are still waiting for market demand to pick up before deciding on the purchase.
"The issue in the West-East Malaysia trade is the imbalance from Sabah and Sarawak, compared with the amount shipped to the other states," he told Bernama.
Ooi said the return ratio from Sabah and Sarawak is only 25 per cent of the goods exported from Peninsular Malaysia.
He said MTT Shipping expects the state government's of Sabah and Sarawak to improve the port facilities, to enhance the movement of goods between the two regions of Malaysia.
"The poor port infrastructure and facilities in Sabah and Sarawak makes the shipping of goods difficult and unsafe. There is also a higher cost for companies like us," he added.
Ooi said as the trade between Sabah, Sarawak and the Peninsular has grown enormously over the last couple of years, MTT Shipping, with its growing fleet of big, fast and modern vessels, is well placed to exploit the trade opportunities.
"Today, MTT Shipping is leading the domestic shipping scene in Malaysia and we are today ranked 79th globally," he added.
Source: Bernama