Malaysia Shipping Report Q1 2016
BMI View: The 2016 growth picture at Malaysia's ports is slightly mixed, with tonnage and box gainsdiffering between the facilities. The Port of Kuantan is set to be the outperformer once more in terms oftonnage growth (just under 10%) as the port is smaller than others and so there is spare capacity at thefacility. Meanwhile, the box throughput outperformer is set to be Port Klang with growth of 8.46%pencilled in for 2016.
Looking at the macroeconomic picture, although we estimate that export growth is enduring a slowdown in2015 (1% annual growth compared to 4.1% in 2014), July's figures looked promising with Dow Jonesreporting a y-o-y rise of 3.5% in that month. This was attributed to an increase in shipments of electricalproducts; however, we do caution that the protracted slowdown in China will affect Malaysian shippers in2016.
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