Muara Port has potential to become a regional hubIris Kong
17th Apr, 2015
MUARA Port has the potential to capture incoming transshipment from cargo-heavy markets in the East ASEAN Growth Area (BIMP-EAGA) and beyond resulting in an increased revenue base and channels for connectivity.
In an interview, Ooi Lean Hin, managing director of Selangor-based MTT Shipping Sdn Bhd, said the Muara Port can be a regional hub and attract transshipment from markets within the areas of Sulawesi, East Kalimantan and the Fijian islands where there is a large market for cargo.
“The cargo can come into Muara Port via the feeder lines and further build the density cargo volume that the port needs,” Ooi told the media following a ceremony for the maiden voyage of the company’s vessel MV MTT Muara at the port on Wednesday.
A feeder line is a branch of a main transportation route. MV MTT Muara is a vessel that is part of a feeder line that effectively connects Brunei with Singapore and Peninsular Malaysia through the region’s mega-hubs in Singapore and Port Klang, Malaysia.
He said the high density of cargo will attract more direct services to Muara Port which will in turn benefit the business community in Brunei.
The increased frequency of cargo coupled with more connectivity will also boost the port’s reputation as it looks to become a hub for transshipment for the region.
Ooi said that it will also attract more foreign direct investments in the country.
This will develop various sectors in the non-oil and gas industry such as the country’s industrial parks.
He then said that the company has been featuring Muara Port in its itinerary for about four years but decided to add another sailing to capitalise on the transshipment volumes from Singapore.
“We started to make port calls in Singapore in March so it is a new market for us. So we actually connect Brunei to both of Southeast Asia’s mega hubs,” he said.
During the event, Dato Dr Kenny Ong, group executive chairman of Malaysian logistics company MTT and Priority Group of Companies, said import trade among Brunei, Malaysia and Singapore stood at $1.84 billion.
This is equivalent to 41 per cent of the Sultanate’s total imports.
Source: The Brunei Times