KUALA LUMPUR (April 27): Bintulu Port Holdings Bhd saw its total cargo annual throughput volume in 2022 increase by 7.6% to 50.73 million tons, compared with 47.16 million tons in 2021.

In a statement on Thursday (April 27), the port operator, which is 28.52%-owned by Petroliam Nasional Bhd (Petronas), said the improvement was spearheaded by a rise in liquefied natural gas (LNG) throughput, which grew 8.5% to 24.89 million tons in 2022, from 22.95 million tons in the previous year.

“The group also experienced volume expansion in non-LNG cargo, which increased by 6.7% to 25.83 million tons [in 2022], compared with 24.21 million tons in 2021,” it said.

The total vessel calls recorded in 2022 were 7,505, representing an increase of 11.4%, compared with 6,735 calls in 2021.

“LNG vessels increased by 3.1% to 469 calls, while non-LNG vessels contributed to the bulk of the year’s upsurge, rising by 12% to 7,036 calls,” it said.

Other liquid bulk rose by 2.7%, while dry bulk cargo at the Bintulu Port increased by 3.9% in 2022, and dry bulk at the Samalaju Industrial Port jumped 21.7%.

“Breakbulk also increased at both ports during the year, rising by 42.6% at the Bintulu Port and by 27.6% at the Samalaju Port,” it said.

Meanwhile, container services at Samalaju Industrial Port Sdn Bhd (SIPSB), which were first introduced in December 2021, saw a major increase in container throughput in 2022.

“It increased more than 10 times to almost 8,000 twenty-foot equivalent units (TEUs), compared with just 724 TEUs the year before.

“In combination, Bintulu Port and SIPSB raised total container TEUs for the year by 4.4%,” it noted.

The port operator also shared that its Biport Bulkers Sdn Bhd plans to offer pipeline bypass services for high-tonnage refineries, bypassing the storage tank and transporting products directly to the vessel.

“The group is optimistic that LNG will remain a significant revenue source despite its stable outlook,” it added.

On the other note, Bintulu Port said that all of the seven resolutions tabled in its 27th annual general meeting on Thursday were approved and duly passed by shareholders.

For the full financial year ended Dec 31, 2022 (FY2022), Bintulu Port’s net profit fell 64.83% to RM127.72 million, from RM363.19 million for FY2021, while revenue grew 8.63% year-on-year to RM791.25 million from RM728.38 million.

Bintulu Port closed down three sen or 0.59% at RM5.02 a share on Thursday, valuing the group at RM2.31 billion.