 The Port of Penang was the third busiest harbour in Malaysia in terms of cargo , handling 1.52 million TEUs of cargo, as well as the busiest port-of-call within the country for cruise shipping.Established in 1786 with the founding of Penang Island as a free port by the British East India Company, the Port of Penang was originally located in the port city of George Town.Under British rule, the Port of Penang played a crucial role in Penang's economy, which largely depended on maritime trade.