PSA volume up 5.6% in 2011

   The Singapore-based global terminal operator PSA International said container throughput at the terminals it manages grew 5.6 percent year-on-year in 2011, to 57.1 million TEUs.
   The growth was spearheaded by 6.1 percent growth at the company’s flagship port in Singapore, where volume grew to a record 29.4 million TEUs. Volume at terminals outside Singapore grew 5 percent to 27.7 million TEUs.
   Singapore is the second busiest container port in the world, behind Shanghai, which has become the first port to handle more than 30 million TEUs in a year.
   “2011 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,” said Tan Chong Meng, group chief executive officer of PSA International. “As we enter 2012, the outlook for the year remains uncertain as countries struggle with the projected slowdown in growth and the potential impact on national economies.”