Container volume growth potential for Westports
WESTPORTS Holdings Bhd's container volume growth is anticipated to benefit from the Intra-Asia trade lane, reports the Malaysia Star.
This trade route has significantly contributed to gateway container growth, with import and export volumes rising 14 per cent and eight per cent year on year during the third quarter of the financial year 2024 (3Q24).
Container volumes may temporarily increase due to frontloading ahead of potential tariffs associated with Donald Trump's presidential transition, with impacts varying based on tariff scope.
Westports' container volume for the nine months ended FY24 (9M24) reached 8.1 million TEU, marking a 1.2 per cent rise and fulfilling 74 per cent of MIDF Research's annual forecast.
Transshipment volumes declined 5.3 per cent offset by a robust 10.3 per cent growth in gateway volumes.
MIDF Research forecasts 4Q24 container volume between 2.7 million TEU and 2.9 million TEU.
Despite lower volumes, container revenue rose 7.1 per cent year over year in 9M24, driven by value-added services (VAS) and higher-yielding gateway volumes.
source:Schednet
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