Maersk-Sealand To Move Hub To Malaysia

Maritime Activity Reports, Inc.

August 18, 2000

Maersk-Sealand, the world's biggest container line, will move its transhipment 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, and expects the move of transhipment activities to PTP from Singapore to give the company more control over operations and entail cost savings.

Container handling at PTP, which started operations in October last year, has been forecast to double to one million twenty-foot equivalent units teu in 2001 and reach 3.8 million teu per year once the port reaches full capacity.

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