Page 3 - MMC Ports Newsletter-2024_Jan-Mar_ISSUE

2024 JANUARY - MARCH ISSUE 3

“ With a renewed vigour

driving us ever forward,

we are committed to

charting greater seas

and revolutionising
the port industry

throughout 2024.
”

FOREWORD

”

WELCOME ABOARD TO THE EIGHTH EDITION OF MMC PORTS’
QUARTERLY NEWSLETTER!
This issue highlights MMC Ports’ latest prospects and progress catalysed in the past year in our side story, “Making Our Mark:
for the new year ahead as each port looks to upgrade and Trailblazing in the Maritime Space”. These strides and impacts
deliver new game-changing value for its stakeholders amidst a empower us forward as a group, building a strong foundation
recovering operating landscape. for even greater benchmarks ahead.

Despite challenges presented by the ongoing Russian-Ukraine With every MMC port poised to make a splash for the upcoming
and Israel-Palestinian conflicts, global exports and imports are year with the projection of improved global conditions,
projected to return to positive territory during Q1 2024 and multiple revolutionary infrastructural expansions and upgrades
beyond, attributed to the gradual reopening of international are in the works to uplift operational capabilities at all premises,
markets and supported by a recovering China and other key maximising service excellence and providing critical value
trading partners like Japan, Hong Kong, Korea, and the USA. to each MMC port’s stakeholders. These highlights will be
Notably, Southern Thailand’s economic rebound is a boon for explored in this issue’s feature story “Expanding Our Scope:
ports such as Penang Port, particularly with a predicted 14% Enhancing Port Infrastructure & Facilities”.
increase in rubber, rubber wood, and manufactured product
exports. Other factors such as stable commodity prices are also Thus far, MMC’s ports and associated companies have launched
slated to bolster further growth throughout the year. initiatives and achieved great strides to kickstart a productive
new year, with key events such as the anticipated completion
Domestically, the Malaysian government predicts gross of Kontena Nasional Berhad’s (Kontena Nasional) revolutionary
domestic product (GDP) growth to remain above 4% in 2024, 100,000 square feet (sq ft) warehouse and Northport (Malaysia)
fuelled by steady domestic demand and a rebound in external Bhd’s (Northport) groundbreaking new record for the highest
trade. This projected level of domestic demand has led to break bulk cargo handling from a single vessel, all highlighted
current increased projections in breakbulk, dry bulk, and liquid in the ‘Around Our Ports’ section.
bulk commodities by 2.5%, 3.5%, and 4.3%, respectively.
As we look to begin yet another promising year on a high,
Looking back, the previous year proved to be a significant year we would like to thank you once again for your support.
”
for several MMC-affiliated ports. From being acknowledged With a renewed vigour driving us ever forward, we are
with various key awards, critical operational upgrades, committed to charting greater seas and revolutionising the port
to significant milestones hit, we recap and celebrate the waves industry throughout 2024.