PSA 2009 volume down 10%
Volume at PSA International terminals in 2009 fell 9.9 percent to 56.9 million TEUs, the Singapore-based terminal operator said Friday.
PSA is the world's second-largest terminal operator and its flagship facility, the Port of Singapore, is biggest single container port in the world. Volume at Singapore fell 13.3 percent to 25.1 million TEUs, though due to a drop at Shanghai (the second-biggest port) Singapore will retain its title as the biggest.
In 2008, Singapore throughput grew 7 percent to 29 million TEUs.
PSA terminals outside Singapore saw volume drop 7.1 percent to 31.8 million TEUs, after rising 7.7 percent in 2008, to 34.2 million TEUs.
'2009 was a year of unprecedented hardship and challenges for the port and shipping industries,' said Eddie Teh, Group chief executive officer of PSA International, in a statement. 'The global economic downturn and massive slump in global trade caused a drastic drop in demand for container shipping. 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.'