New monthly record for Port of Tanjung Pelepas

Port of Tanjung Pelepas (PTP), a joint venture between Malaysia’s MMC Group and the Netherlands-based APM Terminals, has set a new monthly record by handling 1,115,181 TEU in July 2024.

PTP said the new record surpasses the previous high of 1,077,747 TEU set in May 2024 and was achieved without congestion. It is also a milestone for Malaysia, as PTP has become the first port in the country to exceed 1.1 million TEU in monthly throughput.

The Red Sea crisis, which started in December 2023, has severely disrupted global supply chains, continuing into the third quarter of 2024. Houthi attacks on commercial vessels have forced shipping companies to reroute their ships around the Cape of Good Hope, creating significant capacity constraints and congestion at ports worldwide.

The situation has led to widespread delays, particularly affecting Asian exports, and has resulted in increased costs and inflationary pressures. Key trade routes, including those from the Far East to Europe and other regions, are experiencing bottlenecks, with disruptions cascading throughout the global shipping network.

Singapore, one of the key competitors of PTP for container traffic, was among the heavily hit ports by congestion, with some carriers deciding to omit the port on their itineraries.

“Our ability to achieve this record-breaking performance without any congestion solidifies PTP’s role as an indispensable link in the global supply chains,” said Tan Sri Che Khalib Mohamad Noh, PTP Chairman.

“PTP’s pursuit of sustainable growth is demonstrated through our significant emphasis on port asset upgrades and infrastructure enhancements. These efforts align closely with our environmental, social and governance (ESG) agenda, safety policies, and digitalisation strategy. This approach has enabled PTP to navigate global congestion challenges effectively while allowing for continued improvements and expansions,” said Mark Hardiman, PTP Chief Executive Officer.

Specifically, PTP has consistently handled over one million TEU each month since May, indicating sustained growth trend.

PTP is Malaysia’s busiest transshipment hub with the capacity to handle 13 million TEU annually. It was ranked as the fifth most efficient container port in the world by the World Bank and S&P Global Market Intelligence in the Container Port Performance Index 2023.