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Friday, July 01, 2005

China Shipping Company Moves Operations to Malaysia from Singapore

Reported here, a sign of China's belief that the future of trade looks good:
China Shipping, the eighth-ranked shipping company in the world with 167 offices in 76 countries, has a fleet of 400 vessels with a combined 11.5 million deadweight tonnes (DWT).

It has had a presence in Malaysia since 2000 when it shifted its container transhipment hub to Port Klang.

The Malaysian company would oversee Malaysia, Singapore, Thailand, Myanmar, Vietnam, Indonesia, the Philippines, Cambodia and Bangladesh.

Speaking to reporters after the official opening of the office in Kuala Lumpur on July 1, China Shipping vice president Zhang Guo Fa said the shift to Port Klang was on expectations that China-Malaysia trade would continue to increase.

“The Straits of Malacca is also very strategic for us and, besides, all our ships go through Port Klang anyway. Westport is very efficient and that’s where the business is.

“The three fastest growing regions for us are the Far East to North America route, the Far East to Europe route and the Asia Pacific region,” he added.

A company official said China Shipping’s intention to be the third largest fleet in the world by 2010 also necessitated a shift to facilities with larger capacities and lower cost to handle the larger traffic.

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