PSA reports nearly 10% decline in container volumes

News Story
- 14 Jan 2010 ( #444 ) - Singapore
1 min read
PSA International Pte Ltd has reported that it handled 56.93 million TEUs at its port projects around the world for 2009.

The group's handling volume represents a 9.9% decline from 2008, with PSA Singapore Terminals contributing 25.14 million TEUs (-13.1%) and PSA terminals outside Singapore handling 31.78 million TEUs (-7.1%).

A sharp contraction in world trade last year brought on the first-ever decline in PSA's global container throughput.

PSA International group CEO Eddie Teh says 2009 was a year of "unprecedented hardship and challenges" for the port and shipping industries.

"The global economic downturn and massive slump in global trade caused a dramatic drop in demand for container shipping," Teh says.

He explains that PSA took measures in 2009 to reset its capacity needs and reduce operating costs. "We will continue to work very closely with all our customers through these difficult times."
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Previously about:
Briefs News Story - 19 Jan 2012 - 2 min read
PSA makes strong recovery in 2010 News Story - 27 Jan 2011 - Singapore - 1 min read
Inaugural scholarships honour late PSA chairman News Story - 7 May 2009 - Singapore - 2 min read
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