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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Naviera Nabia Orders Newbuild from Gondan

Gondan Shipyard signed a new contract for the construction of a new vessel for Naviera Nabia, part of Acuña Group, from Bueu (Pontevedra-Spain). This new catamaran

CMA CGM Proceeds with NOL Takeover after China Okay

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China,

Technip Bags Statoil's Umbilical Supply Contract

Technip’s wholly-owned subsidiary Technip Umbilicals Ltd.(1) has been awarded a contract by Statoil ASA to supply the umbilical(2) to the Oseberg Vestflanken 2 field offshore Norway.

Ports

SOLAS Container Weight Requirements FAQ

With new rules regarding the declaration of the accurate gross mass of a packed containers due to enter force, the International Maritime Organization (IMO) answers

New Connections for France, Port of Rotterdam

With the launch of a new rail shuttle and inland shipping link, connections between Northern France and the port of Rotterdam are now better than ever. Five times a week,

Mobile Shiploader Delivered to Port Metro Vancouver

Multipurpose heavy lift operator AAL has completed a series of shipments to Port Metro Vancouver (PMV) of a mobile grain shiploader to be installed at the Port’s

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.0749 sec (13 req/sec)