PSA International Pte Ltd (PSA) has announced its throughput record for 2015 and stated that it handled 64 million TEU at its port projects around the world throughout the year.
Volumes decreased by 2% in 2014, with PSA Singapore Terminals contributing 30.62 million TEU and PSA terminals outside Singapore handling 33.48 million TEU.
Mr Tan Chong Meng, CEO of PSA, said: “2015 was generally a tough year with weak trade growth reflecting unsteady global economic conditions.
“As such, we recorded lower overall throughput on a year-on-year basis, arising from volume reductions in a few of our terminals.
“Trade in the second half of the year was particularly lacklustre, and this added to the pressures that were already building up due to structural shifts such as ship upsizing, sustained overcapacity, changes in liner alliancing, and the effect of prolonged lower oil prices.
“We have taken these business conditions in our stride, while focusing on improving our facilities and productivity.
“As ever, we are thankful to our customers for their continued patronage at our terminals around the world. We will continue to invest, to upgrade our operations, and to give our best in serving our customers and partners in anticipation of better times ahead.
“I would like to thank our staff and unions for their staunch support and significant contributions amid challenging circumstances and look forward to working alongside them in the year ahead.”
Fact file: PSA participates in approximately 40 terminals in 16 countries across Asia, Europe and the Americas with flagship operations in PSA Singapore Terminals and PSA Antwerp.