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PSA's global container volumes up 5.8% in 2014

PSA's global container volumes up 5.8% in 2014
Container terminal operator PSA International reported a 5.8% increase in volumes worldwide last year.

Singapore-headquartered PSA handled 65.44m teu last year at its terminals worldwide. Its Singapore terminals handled slightly over 50% of total volumes with 33.55m teu, up 4.1% on the previous year. Its terminals outside Singapore handled 31.89m teu an increase of 7.8% over 2013.

In terms of the business environment PSA ceo Tan Chong Meng highlighted the challenges of the trend to mega-ships and alliances.

“Last year was challenging for the shipping and port industry. Global trade growth was modest and that, coupled with the introduction of many mega vessels, resulted in overcapacity and low freight rates for liner carriers,” he said.

“The increasingly large ships and complex alliances have also led to much greater operational demands being placed on port operators; this is a structural shift which will impact all ports as ships across all shipping routes continue to upsize.”

PSA ceo Tan Chong Meng will be speaking at Sea Asia 2015 in Singapore 21 - 23 April.