Singapore throughput rises 8% to 18.1 million TEUs

Singapore throughput rises 8% to 18.1 million TEUs    PSA Corp. Ltd. handled 18.1 million TEUs at its terminals in Singapore in 2003, 7.8 percent more than in the previous year.
   The operator said it has received government approval to develop five new 15-meter draft berths at Pasir Panjang terminal, which would boost PSA’s annual container handling capacity in Singapore by 20 percent, from 20 million to 24 million TEUs.
   The first two of the five berths are expected to be operational by 2005.
   PSA described 2003 as a “challenging year of change,” as it took steps to transform and make itself more attractive for liners to hub in Singapore.
December saw “a historic milestone,” when the port operator embarked on a joint venture with the China Ocean Shipping Co. group to operate a dedicated terminal in Singapore.
   “PSA is now well-positioned to ride the recovering regional and global economy and pursue our international expansion plans,” said Stephen Lee, the company’s group chairman.
   PSA projects a container growth of about one million TEUs a year over the next few years.