PSA International has revealed that the global economic crisis took its toll on the group during 2009, with yearly company-wide container throughput falling for the first time on record.
The group handled 56.93 TEUs (20ft equivalent units) of containers at its port projects across the world during 2009, an overall reduction of 9.9 per cent, with PSA Singapore Terminals contributing 25.14m TEUs (a drop of 13.1 per cent) and PSA terminals outside of the country handling 31.78m TEUs (down 7.1 per cent).
'2009 was a year of unprecedented hardship and challenges for the port and shipping industries,' said PSA chief executive office Eddie Teh. 'The global economic downturn and massive slump in global trade caused a drastic drop in demand for container shipping.
'PSA took urgent measure in 2009 to reset its capacity needs and reduce operating costs without compromising on the quality, reliable services we provide to our shipping line customers,' he added, 'and we will continue to work very closely with all our customers through these difficult times.'
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