2017 | Quarter 3
Northport Signs Strategic MoU with Shin Yang Shipping and Harbour-
Northport (Malaysia) Bhd, a Member of MMC Group signed a Memorandum of Understanding (MoU) with Shin Yang Shipping Sdn Bhd and Harbour-
The MoU between the port and the shipping lines is aimed at achieving economies of scale through sharing of resources such as vessels, terminals arrangements and networks.
The MoU was signed by Dato’ Azman Shah Mohd Yusof, Northport’s Chief Executive Officer, Captain Ting Hien Liong, Shin Yang’s Chief Executive Officer, and Mr. Francis Yong Piaw-
The strategic alliance between the port and the shipping lines is expected to increase shipping service frequency through schedule alignment between Shin Yang and Harbour-
This arrangement will result in a reduction of operating expenses as well as optimisation of capital expenditures for both shipping lines. Northport is predicted to provide an efficient and effective port services as well as high terminal productivity.
The alliance is expected to benefit significantly from the synergies derived from within the MMC Ports’ group through its integrated logistics value proposition.