PSA 2015 container throughput performance

PSA International Pte Ltd handled 64.10m TEUs of containers at its port projects around the world in 2015.

With PSA Singapore Terminals contributing only 30.62m TEUs, 8.7% less, the Group’s volume decreased by 2%.

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,” he added.

But PSA terminals outside Singapore were up 5% on the previous year having handled 33.48m TEUs.

Mr Meng concluded: “We have taken these business conditions in our stride, while focusing on improving our facilities and productivity.”

“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.”