CMA CGM, the world's third largest container shipping company, expects a double-digit growth for its container volume at Westports next year despite the global economic slowdown.
The target is achievable with bigger ships coming into service, said CMA CGM Malaysia managing director Simon Whitelaw.
'We are projecting a double-digit growth for 2009,' he told reporters on the sidelines of Symposium on Ports and Shipping New Developments here yesterday. The company, based in France, has registered 2.0 million TEUs (20-foot equivalent units), approaching the 2008 target of 2.1 million TEUs. Last year, it generated a volume of 1.7 million TEUs.
Among its new bigger ships set to enter Westports are the 11,500-TEU vessels coming next week and the 13,500-TEU vessels in 18 months' times.
According to Mr Whitelaw, the company 'sees Malaysia as a big potential as the country has a balanced portfolio with commodities and manufacturing products as well as a steady balance of trade. He said despite current global economic turmoil, the company's operations in China were not badly affected mainly because of its large office network there.
CMA CGM is also trying to maintain its freight rate at the right level although the market rate has dropped over the last few months, Mr Whitelaw said.
'It can't last forever because we must make money. We must have good cash flow and able to handle costs such as port and bunker charges. So there is a limit,' he said.