Penang Port Set To Exceed 1.5 Mln TEUs By Year-end, Says CEO
BUTTERWORTH, Penang Port Sdn Bhd is expected to exceed a container handling capacity of 1.5 million twenty-foot equivalent units (TEUs) by the end of this year, said its chief executive officer Datuk Sasedharan Vasudevan. He said the target was slightly higher than last year’s 1.44 million TEUs despite the company facing various challenges such as geopolitical crisis and shortage of containers throughout the year. ‘The Red Sea crisis came to light post-April and it made a huge impact on us as we lost about 20,000-70,000 containers during that period,’ he told reporters in a presentation here today, adding that Penang