SINGAPORE : PSA Singapore Terminals, says on Tuesday that it moved a record 20.6 million containers in 2004 after a resurgence in seaborne trade.
PSA operates the world's second-busiest container port after Hong Kong.
Singapore's container traffic rose 14.1 percent from 2003, when the port moved just 18.1 million twenty-foot equivalent units (TEUs) after a regional outbreak of SARS diminished trade.
But in 2004, seaborne trade and container traffic recovered on the back of a rebounding regional economy, led by China's rapid rise as a manufacturing base.
Last year, PSA Singapore also welcomed 36 new services - more than double the 15 new services it had in the year before.
Singapore's record high container traffic also came in the face of fierce competition from neighboring ports, especially Malaysia's Port Klang and the Port of Tanjung Pelepas, where handling charges are cheaper.
However, Singapore has been able to beat the competition by trimming costs and offering greater connectivity.
To sustain growth and meet new demand, PSA Singapore Terminals said it will add 15 new berths at Pasir Panjang Terminal over the next five to seven years.
It currently has 37 container berths.
The 15 new berths are expected to boost PSA Singapore's annual handling capacity of around 20 million TEUs to 31 million TEUs.
Apart from Singapore, PSA's overseas arm - PSA International - also runs 16 ports in 11 countries across Europe, India, China, South Korea, southeast Asia and Japan.
PSA International's overseas expansion recently suffered a setback when rivals ousted it from one of Hong Kong's port terminals. - CNA
So, if I am not wrong, Dec vol was at 1.81M
Hm... Thinking whether is IPO on the way.... Which has been on KIV for many years
And that the last 2 years have not been wasted