Page 14 - MMC Ports Newsletter - 2022 JULY - SEPTEMBER ISSUE

14 MMC PORTS’ NEWSLETTER
ON THE HORIZON
TIDINGS FOR
YEAR END AND BEYOND
For MMC Ports, 2022 has
been a challenging, though
productive year so far.
From PTP’s record-breaking
throughput of over 1 million in
a month to the implementation
of sustainable initiatives across
all ports, MMC Ports and its
affiliates have continued to
navigate their way through
unsteady, ever-changing tides.
Recently, the surge in consumer demand and
the recent Russian-Ukraine conflict has
negatively impacted major ports globally,
resulting in long queues of ships waiting to
unload their goods and a shortage of shipping
containers. This, in turn, has resulted in higher
oil prices due to a shortage of commodities
in Malaysia and the rest of the world.
Besides those issues, the delay in processes in
the cargo businesses has also been affecting
the logistics performance of the country.
SAILING AHEAD FOR Q4
Despite the global challenges facing the port industry,
there are still many opportunities opening up for Malaysian
maritime for the rest of 2022 and beyond, especially with the
country’s strategic geographic location making it an important
transhipment hub.
According to the Malaysian Minister of Transport, Datuk Seri
Ir Dr Wee Ka Siong, the final quarter of the year is expected to
be good for Malaysian ports due to increased trade activities
despite the impact caused by the Russian-Ukraine conflict.
He also expects the last few months of this year to be busy as
trade activities increase due to the approaching Christmas
season.
Additionally, Malaysia’s forecast GDP growth of between 5.3%
and 6.3% in 2022, rated alongside recovering economies across
Southeast Asia, is a positive indicator of the nation’s resilient
prospects and opportunities ahead.
Despite more optimistic forecasts, however, existing issues such
as the ongoing war, a shortage of vessels and tight financing
may continue to hamper the performance of the Malaysian
maritime industry.