As anticipated in last month's issue of WorldCargo News (p6), Maersk Sealand has agreed to take a 30 per cent stake in Malaysia's Port of Tanjung Pelepas (PTP) for an undisclosed sum as part of a move that will see the world's largest container line shift its transhipment business, totalling about 1.8 mill TEU a year, from Singapore to TPT by the end of the year.
Maersk is acquiring the stake from Seaport Terminal, the port's holding company, which will retain 70 per cent. In May last year Seaport Terminal tried to sell a 30 per cent interest to Johor Port, which runs Malaysia's second-largest port at Pasir Gudang, for M$218 mill (US$57.4 mill)....
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Approx 230 words from WorldCargo News, September 2000,