Withdrawal from container cargo ops to benefit Sarawak shipping firms including Syscorp

A file picture shows a container vessel owned by Syscorp making a call at Northport. In the 12 months to June 30, 2014, Syscorp’s 18 container vessels transported 70,738 twenty-foot equivalent units (TEUs), a jump of 22.9 from 57,526 TEUs year-on-year.

KUCHING: Shin Yang Shipping Corp Bhd (Syscorp) and other local shipping firms are likely to gain from reduced competition with the impending withdrawal of Hubline Bhd from the container cargo transportation business.

Hubline, one of the key shipping players in Sarawak, announced last month that it would cease container shipping operation by September 2015 to stop the heavy losses it had incurred in the past several years.