Serious Kudos to outgoing PSA Chief Tan Chong Meng!

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An honorable member of the Coffee Shop Has Just Posted the Following:

Tan Chong Meng had did Singapore proud. Last year was a difficult year in global trade and he managed to get more containers and ships tranship in Singapore. He is ending his stint with a big bang. He is in the league of J. Y. Pillay who built SIA into a world class airlines.

Now we managed to beat Malaysia harder despite the massive support that China gave them.
Really not easy for him.

http://www.themalaymailonline.com/ma...rms-ship-south

- More firms have shifted their operations away from Port Klang to Singapore under a new alliance agreement that has hit Malaysia’s main shipping hub hard. It noted further that many of Malaysia’s investments are partnerships with China, yet one of the country’s biggest companies and the world’s fourth largest player, the Ocean Alliance, made a huge shift from Klang to port operator PSA Singapore’s terminal in April.

- State-owned China Cosco Shipping is also among the member companies of the alliance. “Only Kuantan Port has Chinese equity so far because it also aids Beijing’s South China Sea claims,” former Port Klang Authority chairman Lee Hwa Beng told The Straits Times. “Other infrastructure plans have either not taken off or are only loans, or worse, just Chinese companies winning construction deals,” he added.

- Cargo throughput was down by a sharp 8.4 per cent in the second quarter of this year to 3 million twenty-foot equivalent units (TEU) after nearly four years of increasing loads, according to data compiled from Northport and Westports, the two operators in Klang. This followed an almost stagnant growth of 0.9 per cent in the previous quarter. Westports, which controls three-quarters of Klang’s total capacity, saw this year’s cargo volume decline by 7 to 12 per cent while next year’s prospect remains “murky”, the paper quoted UOB-Kay Hian’s analyst Kong Ho Meng as saying.

- Port Klang is reportedly the only world’s top 20 ports to see a drop in volume in the first half of this year. Quoting government and industry sources, the paper said Chinese companies designated to take a stake in these two projects have had reservations over their viability.




MAKE SINGAPORE GREAT AGAIN!


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