PSA container volume up 14.4%

PSA International Pte. Ltd. handled 65.12 million TEU of containers at its port projects around the world for the year ending December 31, 2010. The Group performance showed a marked increase of 14.4% over 2009 on the back of contributions from the flagship PSA Singapore Terminals with 27.68 million TEU (+10.1%) and PSA terminals outside Singapore with 37.44 million TEU (+17.8%).

Mr. Eddie Teh, Group CEO, PSA International, said, the PSA Group recovered some of the volumes lost during the global economic slump in 2008 and 2009, and volumes handled in 2010 across our terminals worldwide were higher than anticipated and helped by a much stronger recovery in the first seven months of the year. However, the lower growth rate in the last five months up to December 2010 indicates that weaknesses in the major global economies still persist and growth in 2011 is expected to be uneven and cannot be taken for granted.

Mr. Teh continued, I am grateful to our partners and customers for their unwavering patronage in the past year as the container shipping industry recovered from a period of unprecedented difficulty the year before. I would also like to thank our staff and unions for their professionalism and cooperation as they worked tirelessly to provide the quality services which our customers have become accustomed to. MOL pick Hudong-Zhonghua for LNG carriers