PSA announces container throughput for 2008

PSA International Pte Ltd (PSA) handled 63.2 million TEUs (Twenty-foot Equivalent Units)

of containers at its port projects around the world for the year ending 31 December 2008.

This volume represented a growth of 7.3% over 2007, with PSA Singapore Terminals

contributing 29.0 million TEUs (7.0% growth) and PSA’s terminals outside Singapore

handling 34.2 million TEUs (7.7% growth).

Mr Eddie Teh, Group CEO, PSA International, said, “2008 started strongly amidst the

gathering storm clouds over the financial services industry and the major economies. By

the end of the year, though, any lingering confidence that the major economic

powerhouses would be able to stay out of a recession had been dashed – global trade

worldwide had slowed to a crawl. Unless global economies are able to recover in the

course of 2009 with the help of huge amounts of proposed spending by governments

around the world, our industry will likely experience an extremely difficult year.

“PSA has been bracing and preparing itself for the lean months ahead. I would like to

assure our loyal customers that PSA is committed to continuing to provide them with bestin-

class services and productivity during this difficult phase.

“I would also like to thank our staff and unions for their unwavering dedication and

immense contributions in 2008, and look forward to their continuing full support and

understanding in the difficult year ahead.”

Source: Transportweekly