PSA volumes up

The Group handled 65.44 million teu at its port projects around the world for the year ending 31 December 2014. Its flagship PSA Singapore terminals contributed 33.55 million teu (+4.1%) and PSA terminals outside Singapore handled 31.89 million teu (+7.8%).

“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 Tan Chong Meng, Group CEO.

“The increasingly large ships and complex alliance have also led to much greater operational demands being placed on port operators,” he said. “This is a structural shift which will impact all ports as ships across all shipping routes continue to upsize”.

For 2015, the Group says it will continue to work to increase its network of terminals and become the preferred port partner for the industry.

“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,” added Mr Tan Chong Meng.