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PSA more bullish
  Date:01/11/11  |  From:ifw-net  |  Click:

Port operator PSA International reported a strong recovery in 2010 after seeing throughput fall heavily in 2008 and 2009.

However, it expected 2011 to be "uneven".

PSA handled 65.12 million teu of containers at its port facilities around the world last year, an increase of 14.4% on 2009.

Its PSA Singapore Terminals handled 27.7 million teu in 2010, an increase of 10%, while its terminals elsewhere handled 37.4 million teu, an increase of 17.8% on 2009.

Group CEO Eddie Teh said: "PSA Group recovered some of the volumes lost during the global economic slump in 2008 and 2009, and volumes handled in 2010 across our terminals worldwide were higher than anticipated, helped by a much stronger recovery in the first seven months of the year.

"However, the lower growth rate in the five months up to December 2010, indicates that weaknesses in the major global economies still persist and growth in 2011 is expected to be uneven, and cannot be taken for granted."

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