SINGAPORE: Port operator PSA Singapore is set to expand its container handling capacity here by some 57% within 7 years.
It's aiming to handle some 31.3 million standard containers by the time all its 15 new berths - announced earlier this year - come onstream in 2011.
In the meantime, PSA is already on track to achieving record volumes for this year.
Channel NewsAsia understands PSA could achieve a new record in throughput this year of at least 20 million twenty-foot equivalents or standard containers.
This would surpass its record performance last year.
In 2003, PSA's 37 berths, spread over four container terminals, moved a record 18.1 million boxes.
By October this year, they have already handled some 17.1 million units.
Speaking in Parliament on Tuesday, Minister of State for Finance and Transport Lim Hwee Hua painted a rosy picture for Singapore's future as a shipping hub.
"Our port achieved new records in several areas, such as container throughput, cargo throughput, shipping tonnage, and bunker sales in 2003, and is on track to achieve record breaking performance again this year," she said. "Singapore is well-positioned to capture the increasing trade flows around the region, especially between the Far East and European routes."
And with 15 new berths coming on stream by 2011, PSA could expand its container handling capacity by some 57%, to 31.3 million TEUs.
Singapore is the biggest transhipment hub in the world, connected by some 200 shipping lines to some 600 ports in 123 countries worldwide. - CNA
This makes PSA the largest terminal (No of berths) in the world