Locally, Malaysia’s port operator, Westport Holdings Bhd, had said its container volume declined by 4% for the first nine months of 2020 as compared to the same period last year. PETALING JAYA: Global maritime trade is expected to fall 4.1% in 2020, as the health pandemic has taken a toll not only on the supply chains but also shipping networks and ports, resulting in plummeting cargo volumes, of which Malaysia was not spared. The industry has also been dealing with the knock-on effects of growing trade protectionism and inward-looking policies, according to the United Nations Conference on Trade and Development (UNCTAD) in a report last month. Locally, Malaysia’s port operator, Westport Holdings Bhd, had said its container volume declined by 4% for the first nine months of 2020 as compared to the same period last year. It handled lesser container throughput of 7.73 million twenty-foot equivalent units (TEUs) during the first nine months of 2020 as container volume and demand were affected by various forms of lockdown imposed globally to control the spread of Covid-19. According to Shipping Association Malaysia, container throughput for 2020 is expected to reduce by 15% from 25 million TEUs in 2019 due to lower transhipment activities and container volume. — Bernama
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