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August 14, 2008

Singapore’s PSA sees container traffic up 11.6%
Singapore’s state-owned port operator PSA International said on Wednesday that its home terminals handled 11.6 percent more containers in the first seven months of this year, reported Reuters.

The firm, which runs ports in Singapore and abroad, said in a statement on its website that it had mobilised 17.2 million twenty-foot equivalent units (TEUs), a standard industry measure, compared with 15.41 million TEUs in the same period last year.

Singapore’s government is spending S$2 billion ($1.5 billion) to expand its home port’s capacity by 40 percent in five years, to cope with higher volumes expected from global trade.

PSA also runs ports in Belgium, China, Hong Kong, India, Italy, Japan, the Netherlands, Panama, Pakistan, Portugal, South Korea, Thailand, Turkey, and Vietnam.

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