This is from the Singapore Straits Times here.
Major shipping companies move to Singapore
raising doubts over plans for new harbours
Shannon Teoh Malaysia Bureau Chief In Kuala Lumpur
Business at Port Klang hit this year
major shipping companies shift to Singapore
raised questions over plans to build new harbours, rail links
Ocean Alliance – includes China Cosco world’s 4-largest
made huge to Singapore terminal in April
concerns over China’s commitment to logistics industry in M’sia.
RM55 billion East Coast Rail Link built and financed by China.
Najib called “alternative trade route” to Singapore.
Other infra plans not taken off or are only loans
or worse just Chinese companies construction deals
cargo down a sharp 8.4% in 2nd qtr 2017 to 3 million (TEU)
Westports conservatively 2017 may decline 7-12%
next year’s prospects remain “murky”
loss of transshipment volumes
from giant United Arab Shipping Company (UASC)
and France’s CMA CGM.
up to 2 million TEU annually.
Both groups handle half world’s shipping capacity
started realigning in April
more than half of Klang’s Asia-Europe shifted to Singapore
Singapore saw 9.6% jump in 2nd quarter to 8.5 m TEU.
Among world’s top 20 ports Klang and PTP drop in volume
in first half of this year.
concerns of oversupply for RM43b Melaka Gateway, Carey Island
Chinese companies have reservations over viability.
Carey Island has Indian partner, valued halved to RM100b
govt gave Westports permission to double capacity to 30m TEU
what Singapore handled last year
despite volume shrinking
M’sian govt insisting cargo volumes to rise
My comments : Out of 20 busiest ports in the world, only TWO ports ie Klang and Tanjong Pelepas have recorded shrinking volumes.
Yet the gomen says that our economic growth is strong.
Do you know what an dockland looks like? A dockland need not be a harbour for cargo shipping but it is n’theless tied to shipping.
For the past 50 or 60 years the Clyde bank has been overgrown with grass and weeds. You can see the picture. The sun set on their empire.