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MALAYSIA's Westports Holdings declared an 8.8 per cent year-on-year decline in second quarter profit to MYR162.2 million (US$36.3 million), drawn on revenues of MYR510.9 million, up 2.9 per cent.
Westports said it handled 4.88 million TEU and docked 3,820 ships in the first half of this year.
The first six months witnessed tumultuous global macroeconomic conditions, including a surge in global energy prices, widespread escalating inflationary pressures, interest rates increase, slipping economic momentum, and a military conflict in Ukraine.
These challenges are being compounded on top of the unresolved supply chain constraints and Covid-induced port closures at various points in time in the Far East.
Westports said the intensifying headwinds contributed to a reduction in the transshipment container to 2.97 million TEU.
"However, the local economy demonstrated resilience, with overall gateway volume remaining near-identical at 1.91 million TEU," said Westports managing director Ruben Emir Gnanalingam Abdullah.
Mr Abdullah said the new Liquid Bulk Terminal 5 (LBT5) jetty has docked its first very large gas carriers, and subsequent to that, the first commercial liquefied petroleum gas (LPG) throughput was discharged into the recently built facilities.
The stored LPG at Pulau Indah caters for regional customers' requirements, he said.
"As the shift towards cleaner energy gathers momentum, Westports accommodated the biggest Swiss-based container liner's first LNG dual-fuel ultra large container vessel as the latter made its maiden call at Westports in April," he said.
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