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PSA container throughput up 7.3% for 2008

PSA container throughput up 7.3% for 2008

Singapore: PSA International (PSA) has announced that its port projects around the world handled 63.2m teu for the year ending 31 December 2008.  This volume represented a growth of 7.3% over 2007, with PSA Singapore Terminals contributing 29.0m teu (7.0% growth) and PSA's terminals outside Singapore handling 34.2m teu (7.7% growth).   

"2008 started strongly amidst the gathering storm clouds over the financial services industry and the major economies," said Eddie Teh, group ceo, PSA International. "By the end of the year, though, any lingering confidence that the major economic powerhouses would be able to stay out of a recession had been dashed - global trade worldwide had slowed to a crawl. Unless global economies are able to recover in the course of 2009 with the help of huge amounts of proposed spending by governments around the world, our industry will likely experience an extremely difficult year.  

"PSA has been bracing and preparing itself for the lean months ahead. I would like to assure our loyal customers that PSA is committed to continuing to provide them with best in-class services and productivity during this difficult phase.
"I would also like to thank our staff and unions for their unwavering dedication and immense contributions in 2008, and look forward to their continuing full support and understanding in the difficult year ahead."  [12/01/09]