PUCKET: While the Panama Canal expansion has led ports in close proximity to prepare to compete, a similar scenario is taking place in South East Asia.
Indonesia Port Corporations (IPC) or PT Pelabuhan Indonesia (Pelindo), Indonesia’s state-owned port operator is to build 22 ports in the country in the next five years for an anticipated cost of around $3.5 billion.
This is in order to support the Indonesian government’s plan to turn Indonesia into a maritime axis, according to Deal Street Asia. The move is seen as strategy to compete with Indonesia’s close neighbor, Singapore.
It is a similar strategy that regional Pacific coast ports have to compete with Panama, where they are getting advantage as Panama’s politicians dither over the proposed port of Corozal. The Port of Rotterdam is planning to build a seaport in partnership with Pelindo I. The purpose of this initiative is to create more opportunities for Dutch companies abroad.
Richard Joost, CEO of Pelindo II, said: “We are targeting to build 22 ports from Belawan to Sorong within five years.” The Indonesian port projects are to be financed by cash and loans and once completed each will have a capacity of 2.5 million TEUs.
Shipping activity at Port Qasim on February 11
KARACHI: Three ships namely, Glen Canyon, Al-Salam- II and TSM Pollux carrying Containers, Gas oil and Palm oil were arranged...
