Container throughput at the PSA International in 2011 grew 5.6 percent year-over-year, as the port terminal operator saw traffic expand 6.1 percent at its flagship operation in Singapore.
Non-Singapore terminal traffic, which accounts for slightly less than half the company’s business, rose 5 percent in the same period, bringing total throughput to 57 million 20-foot equivalent units. PSA's throughtput grew 14.4 percent in 2010.
PSA Group CEO Tan Chong Meng said the year “posed several challenges for the shipping and port industries as global trade slowed down amidst unfavorable developments, including the Japan earthquake, excess shipping capacity and the ongoing sovereign debt crisis in Europe.”
He also said the outlook for 2012 remains uncertain because of the global economic slowdown and the potential impact on traffic growth. Globally, PSA operates 29 cargo terminals in 17 countries across Asia, Europe and the Americas with a combined capacity of over 111 million TEUs.