Page 3 - MMC Ports Newsletter-2023_Oct-Dec_ISSUE
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2023 OCTOBER - DECEMBER ISSUE 3
Foreword
Welcome aboard to the seventh edition of
MMC Ports’ quarterly newsletter!
This issue highlights the latest initiatives As the guiding light that paves our Penarafan Bintang Sasaran Penting
and upcoming plans as MMC Ports looks direction, the role of good governance 2023 under the Key Point ll category,
to conclude the year on a high amidst has always been an integral part of each PTP receiving the prestigious UN Global
a challenging operating landscape, MMC port’s latest policies and measures. Compact Network Malaysia & Brunei
charting out good prospects for 2024. This is prominently highlighted in this Forward Faster Sustainability Award
issue’s featured story “Establishing under the main Enterprise Category:
The container shipping industry faced Trust: Championing Integrity & Good ‘The Forward Faster Sustainability
multiple logistical challenges throughout Governance”. Award – Gender Equality’, and Penang
Q4 2023, such as an oversupply of Port achieving a breakthrough milestone
container capacity, subdued demand, To continuously deliver service with the attainment of its highest-ever
disruptions from natural disasters, excellence in anticipation of next year’s monthly volume for container handling
and market volatility, with continuous improved market conditions, all MMC in Q4.
downside risks and a lowered peak ports are poised to make their mark
season demand also expected during through constant on-site improvements With all ports finishing up the year on
the period due to high US inventory and initiatives, such as Tanjung Bruas’ a high note, we are collectively poised
levels prolonging destocking activities. latest reclamation operation, Northport's and prepared for the following year’s
MoU with the Transportation, Ports and challenges through several key plans
However, the global container volume Shipping Bureau of Yangpu Economic outlined in the “On The Horizon” section.
growth for 2024 is also forecasted to Development Zone to enhance trade
improve from 3.5% to 4.5% this year. links between Port Klang in Malaysia As we bid 2023 adieu, we extend our
The anticipation of this increased, yet and the Hainan Province in the People's deepest appreciation for being a part
hampered growth is due to delayed Republic of China, and other notable of our ongoing journey as well as for
volume recovery in many key trades milestones as highlighted in the “Around reading the MMC Ports' newsletter
caused by tight financial conditions Our Ports” section. publications. Here’s to exploring greater
for businesses and consumers. With horizons ahead together for 2024!
larger vessels to be added to the global Our ports have also been recognised
fleets next year, the smaller vessels will for their strides and achievements in
cascade into the intra-Asia trade lanes. their respective fields for the year, with
Northport bagging Anugerah Perdana
