PSA makes strong recovery in 2010

News Story
- 27 Jan 2011 ( #498 ) - Singapore
1 min read
PSA International Pte Ltd handled 65.12 million TEUs of containers at all its port projects in the year ended 31 December, 2010.

The group's performance showed a 14.4% increase from 2009. The flagship PSA Singapore Terminals handled 27.68 million TEUs, 10.1% higher than the previous year while PSA terminals outside Singapore handled a total of 37.44 million TEUs, a 17.8% increase from the year before.

PSA International group CEO Eddie Teh says the group recovered some of the volumes it lost during the global economic slump in 2008 and 2009. "Volumes handled in 2010 across our terminals worldwide were higher than anticipated, helped by a much stronger recovery in the first seven months of the year. However, the lower growth rate in the last five months [of 2010] indicates that weaknesses in the major global economies still persist."

Teh expects growth in 2011 to be uneven and "cannot be taken for granted".

PSA International is one of the world's leading global port groups. With its flagship operations in PSA Singapore Terminals and PSA Antwerp, PSA participates in 28 port projects in 16 countries and has a global capacity of 111 million TEUs over 66kms (41 miles) of quay length. It has been voted best global container terminal operating company five times since 2005 at the Asian Freight & Supply Chain Awards.
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Previously about:
Briefs News Story - 19 Jan 2012 - 2 min read
PSA reports nearly 10% decline in container volumes News Story - 14 Jan 2010 - Singapore - 1 min read
Inaugural scholarships honour late PSA chairman News Story - 7 May 2009 - Singapore - 2 min read
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