16-Nov-2010 10:21 AM

Malaysian exports surge in 2010

Malaysia’s Penang Freight Forwarders Association president, Krishnan Chelliah, stated the combined cargo throughput at Kuala Lumpur and Penang airports increased 45% year-on-year in the Jan-Oct period, to 142,538 tonnes (StarBiz, 15-Nov-2010). Chelliah noted that Australia has become a major export destination for Malaysia, due to the strength of the Australian dollar. He said that air freight rates were at historic highs owing to a shortage of capacity in the air freight market. Mr Chelliah stated freight rates charged by LCCs was, on average, 15% lower than those charged by full-services carriers.

Penang Freight Forwarders Association: "The increase has to do with the robust growth experienced by the country in the first half. This shows that manufacturers of electronics products and perishable goods such as food and agricultural items are producing in full force." Krishnan Chelliah, President. Source: StarBiz, 15-Nov-2010.