Shandong Port Group's (SPG) Overseas Development Group secured an excellent performance in the first quarter, with its overseas investment project in the Smart Depot, based in Malaysia's Port Klang, seeing significant improvement in overall operational capability. The number of gate-in and gate-out containers handled via the depot in the first three months amounted to 50,893 TEUs (twenty-foot equivalent unit), an increase of nearly 35 percent year-on-year.

The growth is mainly attributable to the group's strategic plan formulated last December, when SPG Overseas Development Group successfully purchased a 10 percent stake of the Smart Depot, thanks to the help of SPG (Southeast Asia) Pte Ltd. The move marks a pivotal step forward in SPG's efforts to expand further into the Southeast Asia market.

Notably, the depot's container repair business has become the biggest growth highlight in the first quarter. During the same period, the depot repaired 13,078 TEUs of containers, up 84 percent year-on-year, far exceeding the overall business growth rate.

The breakthrough was driven by the upgrading of the container repair process and the release of production capacity, reflecting strong market demand for high-value-added supporting services. The rapid growth of the container repair business is effectively optimizing the revenue structure of the depot and enhancing its overall profit capability.

This year SPG Overseas Development Group has started leveraging the role of SPG (Southeast Asia) Pte Ltd as a regional platform and tapped into the Klang depot to extend market resources in Southeast Asia and beyond.

It has also deepened its cooperation with local partners, upgraded its service capabilities, and advanced the upgrading of its intelligent and green operations. These efforts have facilitated unimpeded regional trade and built a secure and efficient overseas hub network.

Container operations at SPG's Smart Depot in Port Klang, Malaysia, reflect strong growth in regional logistics activity. [Photo provided to chinadaily.com.cn]