Private sector urged to take lion’s share in Malaysia's economic growth

JUST last month, the 333-metre long MT Mesdar, weighing 315,802 metric tonnes, arrived from the Middle East to discharge crude oil at Malaysia’s first deep water storage terminal in Pengerang, Johor, marking the first time a very large crude carrier had berthed there.

The first phase of the terminal developed by Pengerang Independent Terminals Sdn Bhd – a private-public partnership between Dialog Group Bhd, Holland’s Royal Vopak NV and the Johor state government, has welcomed 143 vessels since April 2014. With the inclusion of the Pengerang terminal into Platts’ Singapore Price Assessment process on May 1, business is expected to pick up significantly.