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Port sector may worsen in 2009
2009/4/21
The port sector, which globally faced a 20 per cent reduction in terms of volumes in the fourth quarter of the fiscal 2008, is likely to face a worse situation in 2009, according to Kim Fejfer, Chief Executive Officer, APM Terminals Ltd, which operates nearly 50 ports across 44 countries in the world, the Hindu Business Line reported.
The months of January and February 2009 have been similarly bad, although March demonstrated some recovery. "But 2009 may be difficult year in the port sector," he said.
Asked about any new ports APM Terminals may be looking at in India, he said the company, which currently operates India''s first private sector port at Pipavav and the Gateway Terminals India facility at Nhava Sheva, has "a couple of more ports high on its list" but he declined to elaborate.
The market situation would impact the demand-supply situation, which would be taken into account for further investments in India. Gujarat Pipavav Port had indefinitely postponed its IPO recently in view of volatile market conditions.
The Hague-based APM Terminals plans dredging up to 16 million tonnes alongside the berth at Pipavav to maximise TEUs. Its dredging project to deepen the draft to 14.5 meters is nearing completion in May 2009.
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2009/4/22