GEORGE TOWN: The cargo handled at Penang Port Sdn Bhd (PPSB) in 2018 is expected to increase by 10% this year.

Penang Freight Forwarders Association (PFFA) president Krishnan Chelliah told StarBiz that for the first quarter of 2018, the cargo handled was 371,270 TEUs, an improvement from 355,381 TEUs achieved in the same period a year ago.

“South America and South Africa are booming markets.

“We are shipping out a lot of electronic, refrigerating, and textile products to South America, and South Africa buys technological, food, and building material products from us.

“About 15% of the export cargo handled are for the South America, while South Africa takes up another 15%,” he added.

He said Penang’s freight forwarders expected the tonnage of the imported and exported cargo handled at the Penang International Airport to rise by 15% and 6%, respectively, in 2018 to 75,000 and 69,720 tonnes.

“The imported and exported cargo handled rose by 25% and 5.3%, respectively, over 2016 to 65,305 and 65,774 tonnes.

“About 70% of the cargo handled last year comprised electronic and semiconductor components and parts.

“As the semiconductor and electronic industries are projected to show further improvement in 2018, we can also expect the tonnage handled to rise correspondingly,” he said.

The electronics sector is also expected to perform well as Broadcom is projected to be the largest exporter in Malaysia this year.

“The exports from Broadcom are projected to be about RM65bil or 8% of Malaysia’s total exports in 2018,” he added.

Source: The Star

Photo Credit: The Star