PSA global volume up 7.3% in 2008

PSA global volume up 7.3% in 2008 PSA International said Monday that global volume at its container terminals increased 7.3 percent in 2008 to 63.2 million TEUs.
   The terminal operating giant said volume at its flagship facility, the Port of Singapore, rose 7 percent to 29 million TEUs, while volume at its global terminals rose slightly higher, 7.7 percent, to 34.2 million TEUs.
   '2008 started strongly amidst the gathering storm clouds over the financial services industry and the major economies,” said Eddie The, PSA International Group chief executive officer, in a statement. “By the end of the year, though, any lingering confidence that the major economic powerhouses would be able to stay out of a recession had been dashed — global trade worldwide had slowed to a crawl.
   'Unless global economies are able to recover in the course of 2009 with the help of huge amounts of proposed spending by governments around the world, our industry will likely experience an extremely difficult year. PSA has been bracing and preparing itself for the lean months ahead.'
   PSA said it operates in 28 ports in 16 countries, and that its terminals have a combined capacity of 111 million TEUs. Volumes and percentage increases for individual terminals weren’t released.