PSA retains the number one position

Of the total volume, the flagship PSA Singapore Terminals handled 29m teu (up 7%) and remain the world’s number one container port, while the rest of the global terminals handled 34.2m teu (up7.7%).

Eddie Teh, Group CEO, PSA International, said, “2008 started strongly amidst the gathering storm clouds over the financial services industry and the major economies. 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 customers that PSA is committed to continuing to provide them with best in-class services and productivity during this difficult phase.