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Penang Port's container terminal NBCT falls short of 2013 targets
MALAYSIA's main terminal, North Butterworth Container Terminal, is to fall short of its annual volume target of 1.3 million TEU due to imbalance of imports and exports and excess global capacity.
According to Penang Port Sdn Bhd chief operating officer Obaid Mansor it will still see a five per cent increase on last year's volume of 1.16 million TEU, but will is likely to fall short of expectation.
"There was some pickup in cargo activities in the third quarter due to intra-Asian trade involving China. But most of the cargo handled were coming into the country rather than going out," he said of a import/export split 56 per cent to 44 per cent, a sign of "sluggish" global economy.
Of the 24.3 million freight weight tonnes (FWT) the terminal handled, 65 per cent were containerised cargo, 35 per cent non-container cargo up to October. Its yearly target is 32.9 million FWT compared to 29.8 million FWT in 2012.
Newbuildings coming into service has led to overcapacity of freight space, suppressing freight rate charges, in light of rising fuel costs, reported the Malaysia Star.
According to Penang Port Sdn Bhd chief operating officer Obaid Mansor it will still see a five per cent increase on last year's volume of 1.16 million TEU, but will is likely to fall short of expectation.
"There was some pickup in cargo activities in the third quarter due to intra-Asian trade involving China. But most of the cargo handled were coming into the country rather than going out," he said of a import/export split 56 per cent to 44 per cent, a sign of "sluggish" global economy.
Of the 24.3 million freight weight tonnes (FWT) the terminal handled, 65 per cent were containerised cargo, 35 per cent non-container cargo up to October. Its yearly target is 32.9 million FWT compared to 29.8 million FWT in 2012.
Newbuildings coming into service has led to overcapacity of freight space, suppressing freight rate charges, in light of rising fuel costs, reported the Malaysia Star.
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