Hutchison Buy Follows Maersk Deal

Wednesday, September 27, 2000
Hutchison Port, a unit of conglomerate Hutchison announced earlier on Wednesday a 30 percent investment in Westport Holdings, a multi-purpose terminal in Malaysia's biggest port, Port Klang. Hutchison, controlled by Hong Kong tycoon Li Ka-shing, said in a statement that the deal would allow it to participate in Malaysia's economy. It gave no other details of the deal.

Malaysia has 15 ports including Port Klang, on the west coast of Malaysia, which is the nation's main port.

Port Klang, which is made up of three ports, the north, south and west ports, has been trying to compete with Singapore, the largest and busiest container port in the world.

The Hutchison deal came about a month after Maersk-Sealand, the world's biggest container line, announced it would move its transshipment hub to the Malaysian port Tanjung Pelepas (PTP) from Singapore.

Maersk-Sealand, part of Danish shipping and oil conglomerate A.P. Moeller, bought 30 percent of PTP.

The move of transshipment activities to PTP from Singapore would give Maersk-Sealand more control over operations and entail "considerable" cost savings, Maersk officials said.

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

EU Regs on Ship CO2 Reporting Complicates IMO Agreement

ICS Concerned that EU will Preempt IMO CO2 Negotiations.   The global trade association for shipowners – the International Chamber of Shipping (ICS) – is disappointed

Asia VLCC Rates Could Could Climb Even More

Owners see rates climb by nearly $22,000 per day; Rates could peak as more tonnage comes free. Rates for very large crude carriers (VLCCs) on key Asian routes

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Ports

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

PSA Chairman Receives Belgium Award

On 27 November 2014, PSA Group Chairman Fock Siew Wah was conferred the national distinction ‘Commander of the Order of the Crown’ from His Majesty King Philippe of Belgium for his merit,

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1353 sec (7 req/sec)