First volume decline for PSA

Container throughput at PSA International’s port projects around the world totalled 56.93m teu in 2009, representing a decline of 9.9% over 2008.

PSA Singapore Terminals contributed 25.14m teu (-13.1%) and the group’s terminals outside Singapore handled 31.78m teu (-7.1%).

The figures confirm the first ever decline in PSA’s global container throughput, brought about by the sharp contraction in world trade last year.

Eddie Teh, PSA International group CEO, said 2009 was a year of unprecedented hardship and challenges for the port and shipping industries. "The global economic downturn and massive slump in global trade caused a drastic drop in demand for container shipping," he commented.

"PSA took urgent measures in 2009 to reset its capacity needs and reduce operating costs without compromising on the quality reliable services we provide to our shipping line customers; and we will continue to work very closely with all our customers through these difficult times.

"I would like to thank all partners and customers for their continued patronage in the past year. I am also grateful to all our workers and unions for their diligence, perseverance and professionalism as they worked hand-in-hand with management to deal with the uncertain business environment. I look forward to their continued support as we face another challenging year ahead."