PSA container throughout up 5.8 per cent in 2014

PSA International: Singapore headquartered global port group will continue the investments to stretch their capabilities

PSA International Pte Ltd (PSA) handled 65.44 million TEUs of containers at its port projects around the world for the year ending 31 December 2014. The Group’s volume increased by 5.8% over 2013 with the flagship PSA Singapore Terminals contributing 33.55 million TEUs (+4.1%) and PSA terminals outside Singapore handling 31.89 million TEUs (+7.8%).

Mr Tan Chong Meng, Group CEO of PSA, said, “Last year was challenging for the shipping and port industry. Global trade growth was modest and that, coupled with the introduction of many mega vessels, resulted in overcapacity and low freight rates for liner carriers. The increasingly large ships and complex alliances have also led to much greater operational demands being placed on port operators; this is a structural shift which will impact all ports as ships across all shipping routes continue to upsize.”

“For 2015, we will continue to engage our customers and partners worldwide, as we strive to increase our network of terminals alongside them and to become their preferred port partner. We will continue to make the necessary investments to stretch our capabilities and enhance our operational efficiency to serve them as they grow their businesses with us well into the future,” Mr Tan Chong Meng adds.

PSA International is one of the leading global port groups. It participates in port projects across Asia, Europe and the Americas with flagship operations in PSA Singapore Terminals and PSA Antwerp. In Singapore, PSA is designed to operate a total of 57 berths with a handling capacity of 40 million TEUs yearly at its container terminals in Tanjong Pagar, Keppel, Brani and Pasir Panjang.

www.internationalpsa.com

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