PSA Container Volumes Increase in 2016

container ship

By MarEx 2017-01-12 16:50:23

PSA International handled 67.63 million TEUs at its terminals around the world in 2016, a volume increase of 5.5 percent over 2015.

Flagship PSA Singapore Terminals contributed 30.59 million TEUs (-0.1 percent) and PSA terminals outside Singapore handling 37.04 million TEUs (+10.6 percent).

On December 21, 2016, PSA Antwerp (PSAA) and MSC PSA European Terminal (MPET) jointly achieved, for the first time in the terminal’s history, a record container throughput of 10 million TEUs in one year. The figure included both sea-going and inland navigation volumes.

Tan Chong Meng, Group CEO of PSA, said, “2016 served up another difficult year for the port and shipping industry. We had to grapple with sluggish global trade, weak demand for container shipment, sustained excess shipping capacity and depressed freight rates. Against this unsettling landscape, the PSA Group managed to achieve positive growth,” he said. 

“The tough business environment is likely to continue into 2017, but that is not the whole story. We may witness more system-wide changes brought on by the convergence of slow market growth, emerging technologies and new business needs. Rapid consolidations in the container liner industry are giving rise to uncertainties as well as opportunities. New shipping service deployments and products will hit the market, demanding adjustments and adaptations by not only terminal operators, but players big and small in the global supply chain.”
PSA participates in around 40 terminals in 16 countries across Asia, Europe and the Americas with flagship operations in PSA Singapore Terminals and PSA Antwerp.