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Westports 1% growth in Q1

KUALA LUMPUR: Westports Holdings Bhd has recorded a one per cent growth in container volume to 2.4 million twenty-foot equivalent units (TEUs) for the first quarter ended March 31, 2017 (Q1).
The port operator said it recorded lower volume than the originally expected for the month of April 2017 to May 2017.
"Westports handled 3.95 million TEUs for the five-month period ending May, down by three per cent, when compared to the corresponding period last year," it said in a filing to Bursa Malaysia today.
The company said it had originally expected to grow its volume this quarter supported by increased amount of transitional moves or ad hoc calls, as a result of the changes in shipping alliances.
However, it did not materialise due to intense competition for these volumes.

On outlook, Westports expects this year's overall container volume to be lower than the previous year by a single-digit percentage due to the moderate container throughput

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