29/04/2011 (Borneo Post) - The wholly-owned subsidiaries of Bintulu Port Holdings Bhd (Bintulu Port) are expected to benefit from potential new cargo coming their way after seeing improvement in its results for Financial Year (FY) 2010.

The subsidiaries, namely Bintulu Port Sdn Bhd (BPSB) and Biport Bulkers Sdn Bhd (Biport Bulkers), saw an improvement in terms of cargo output thanks to the recovery of the economy last year, noted the chief executive officer (CEO) of Bintulu Port, Dato’ Mior Ahmad Baiti.

“The impact of the economic recovery in 2010, particularly the domestic economy, has indeed contributed to the improvement of the overall performance of BPSB,” said the CEO during a press conference following the group’s Annual General Meeting in Kuching yesterday.

He noted that BPSB’s cargo throughput, in particular, had increased by 5.7 per cent from 38.4 million tonnes in 2009 to 40.6 million tonnes in 2010.

In the highlight was liquefied natural gas (LNG) which remained the major contributor of its cargo throughput by 57.64 per cent, followed by containerised cargo at 10.3 per cent, added Mior.

The group’s total revenue in 2010 was RM454.95 million compared with RM435.9 million the year before, which was an increase of 3.6 per cent. Revenue from the group’s port and bulking services increased by RM12.2 million and RM3.7 million respectively, due to the increase in throughput.

“We are targeting an annual growth of four to five per cent, up to 2015,” Mior revealed. “This is not factoring in potential new cargo which we might receive.”

He was referring to the potential new cargo coming in from the Sarawak Corridor of Renewable Energy (SCORE). In fact, Bintulu Port was currently in discussions with Press Metal Bhd (Press Metal) on ways to handle and move the latter’s products.

Press Metal was currently constructing a plant in Samalaju Industrial Park within SCORE.

When asked on major capital expenditure (capex) spent this year, Mior revealed that Bintulu Port spent RM75 million for two new key cranes and eight new Rubber Tyred Gantry (RTG) cranes which it expected to receive by 2012.

Speaking on future prospects, Mior affirmed that Bintulu Port would reduce its dependency on LNG from its current level to 60 per cent in the next couple of years.

“For this purpose, we will continue to attract traffic, enhance capacities and capabilities, improve cost and fund management and develop new businesses,” he outlined.

“At the same time, the group will also reposition itself to serve SCORE in terms of provision of port services and facilities including terminal operation and management.”

He highlighted specific focus would be given to the development of the container sector, bulk cargo and palm oil as well as the oil and gas sectors.

“Several related projects have been identified for future development, such as an oil and gas terminal, the development of 1,000 metre general cargo wharf, storage yards and sheds as well as the re-development of a general cargo wharf for container operation.”