Free commercial zone status a game-changer for Penang Port

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Despite being the final federal port in the peninsula to be accorded the free commercial zone (FCZ) status, without a doubt Penang Port Sdn Bhd’s North Butterworth Container Terminal’s (NBCT) operations will be impactful when its transshipment activities are in full swing.Penang Port chief executive officer Sasedharan Vasudevan said even though NBCT received the FCZ status on Feb 1 this year, the port operator has a conservative target for transshipment throughput of 50,000 twenty-foot equivalent units (TEUs) for 2021.“However, once the business matures, it can potentially go up to half million TEUs. This is what we are looking at for the next five years. Once it starts building momentum, we may have to expand the port to ensure we have the capacity,” he told Bernama.He said Penang Port’s strategic location would enable transshipment activities from the Bay of Bengal and poten…