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

Contracts

Jackup Rig Delivered to Abu Dhabi’s NDC

Lamprell delivers its 11th Super 116E jackup drilling unit Lamprell has completed the construction of jackup drilling rig, the Shuwehat, and has delivered the

Transpacific Container Shippers Plan Price Rise

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.

DP World: Shareholders Back EZW buy, London Delisting

Shareholders of DP World have approved buying Economic Zones World from its majority shareholder and also backed the port operator's delisting from the London Stock Exchange,

Ports

NRL Researchers Demo Ship-to-Shore Data Link

Scientists at the U.S. Naval Research Laboratory (NRL) along with Mercury Continuity (MC) have demonstrated the Tactical Reachback Extended Communications (TREC) system in the port of Miami.

DP World: Shareholders Back EZW buy, London Delisting

Shareholders of DP World have approved buying Economic Zones World from its majority shareholder and also backed the port operator's delisting from the London Stock Exchange,

Boxco Moves Longest Column through Mumbai Port

Boxco Logistics has set the bar high yet again, by moving the LONGEST COLUMN EVER that was transported in and out of Mumbai Port. It all started in the industrial

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Salvage Sonar 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: 0.1327 sec (8 req/sec)