Original news was published on 23 January, 2015
SINGAPORE PSA International has posted a 5.8 per cent year-on-year increase in container throughput worldwide in 2014 to 65.44 million TEU, the company reported.
Company flagship, PSA Singapore Terminals, posted a 4.1 per cent increase in container throughput, which contributed 33.55 million TEU to the global volume with PSA terminals outside Singapore, which handled 31.89 million TEU, up 7.8 per cent year on year.
"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," said PSA Group CEO Tan Chong Meng.
"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," he said.
"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," he said.
