PSA Container Throughput Falls 2%

 

PSA International Pte Ltd (PSA) handled 64.10 million Twenty-foot Equivalent Units (TEUs) of containers at its port projects around the world for the year ending 31 December 2015. The Group’s volume decreased by 2.0% over 2014, with flagship PSA Singapore Terminals contributing 30.62 million TEUs (-8.7%) and PSA terminals outside Singapore handling 33.48 million TEUs (+5.0%).

Mr Tan Chong Meng, Group CEO of PSA, said, ‎"2015 was generally a tough year with weak trade growth reflecting unsteady global economic conditions. As such, we recorded lower overall throughput on a year-on-year basis, arising from volume reductions in a few of our terminals.

“Trade in the second half of the year was particularly lacklustre, and this added to the pressures that were already building up due to structural shifts such as ship upsizing, sustained over-capacity, changes in liner alliancing, and the effect of prolonged lower oil prices.

“We have taken these business conditions in our stride, while focusing on improving our facilities and productivity. As ever, we are thankful to our customers for their continued patronage at our terminals around the world. We will continue to invest, to upgrade our operations, and to give our best in serving our customers and partners in anticipation of better times ahead.

“I would like to thank our staff and unions for their staunch support and significant contributions amid challenging circumstances and look forward to working alongside them in the year ahead.”