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Container volumes up 9.8% at PSA ports globally in 2017
PORT operator PSA International has posted a 9.8 per cent year-on-year rise in the number of containers that it handled around the world last year.
Container throughput at its port projects globally came in at a total of 74.2 million twenty-foot equivalent units (TEUs).
Of this, its flagship PSA Singapore Terminals contributed 33.35 million TEUs - up 9 per cent from the year before.
Volumes at PSA terminals outside Singapore grew 10.4 per cent to 40.89 million TEUs.
PSA group chief Tan Chong Meng noted that the global economy saw some recovery and bright spots of growth in 2017, although the shipping industry continued to face challenges as the huge wave of consolidation and alliancing in 2016 began to manifest its full effects operationally.
"The word 'disruption' has moved from being a buzzword to being the norm for most industries, reflecting the accelerated pace of change and leaving no industry untouched," he said.
Mr Tan noted that PSA has performed reasonably well against the challenging backdrop and tough competition. "In addition, we are also preparing for a future where logistics and supply chain needs are transformed by new technology, trade, manufacturing and e-commerce dynamics," he said.
Mr Tan added: "As we sail into 2018, we are cognisant that the world will continue to grapple with uncertainty geopolitically, economically and socially.
"The way businesses and consumers engage, transact and collaborate continues to evolve, and will have further impact on the form and flow of the global supply chain. PSA management, unions and staff will continue to journey closely alongside our customers and partners as we contribute to the shaping of our industry amidst the widening ripples of change."