Growth
The port continues to register spectacular growth. At the end of 1999, the terminal handled 20,696 twenty-foot equivalent units (TEU), which rose to 423,710 TEU in 2000, 2.05 million TEU in 2001, and 2.67 million TEU in 2002, and 3.48 million TEU in 2003 outstripping Port Klang and ther11eby establishing itself as Malaysia's largest port. In 2004, it registered a 15.3% increase to 4,020,421 TEU, and came in as the world's 16th busiest container port. In 2005, PTP handled 4.2 million TEU, and 2006 an estimated 4.6 million TEU. In 2007, PTP handles a further 5.5 million TEU, a growth of 14.5 percent compared to 2006. In 2008 PTP handled 5.6 million TEU and PTP closed 2009 with a container throughput of 6.02 million TEUs which was 7.5% higher than 2008.
This accelerated growth hinges on the port's proximity to the busy sea lanes on which the Port of Singapore derived its growth and sustainability for nearly two centuries. Positioning itself as a choice alternative to Singapore's terminals, it highlights its proximity to the Tuas Second Link which leads to Singapore. Sustained growth after 2000 was also largely possible as Maersk Sealand, the world's largest container ship operator, took a 30% equity stake in the port's holding company, Seaport Terminal in a deal concluded on 17 August 2000, effectively shifting all of Maersk's operations to the new port from the Singaporean port by the end of that year. Maersk was once the largest operator in Singapore, and the shift represented a 10% drop in business there.
In 2002, Evergreen Marine Corporation, then the world's second largest shipping company after Maersk, also shifted its operations to PTP from Singapore. This event raised alarm bells in the Singaporean port, with widespread speculation in the shipping community that Evergreen's endorsement of PTP demonstrated that Maersk's move may not be an isolated one. Other lines have since also started direct services at PTP.
In 2008, the port announced that it will expand its quay by the addition of four berths worth MYR1.4 billion. The length of the quay will increase by 1.44 km to the existing 3.6 km. It is expected that the first two berths will be operational in 2009. The expansion project will increase the handling capacity to 12 million TEUs.
Read more about this topic: Port Of Tanjung Pelepas
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