PSA International Traffic Up 5.2 Percent

PSA International Traffic Up 5.2 Percent

PSA International said its global container throughput in 2012 grew 5.2 percent year-over-year to 60 million 20-foot-equivalent units.

Traffic at PSA’s flagship Singapore terminals was estimated at 31.26 million TEUs, up 6.4 percent from a year ago, while non-Singapore facilities contributed 28.8 million TEUs, a gain of 3.9 percent over 2011.

PSA Group CEO Tan Chong Meng said 2012 was “another challenging year for shipping and port industries as global trade growth continued to be weak, undermined by volatile market conditions, including the ongoing sovereign debt crisis in Europe, sluggish recovery of the American economy, turmoil in the Middle East and the slowdown of economic growth in China.”

He said PSA would continue to invest in new port projects and upgrade existing terminal facilities to cope with future challenges.

PSA last year withdrew its winning bid to build and operate a new container terminal of 4.8 million TEUs annual capacity at India’s Jawaharlal Nehru Port (Nhava Sheva), raising doubts over whether New Delhi would “seriously” consider PSA’s future bids on terminal concessions at major ports.