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            november 19, 2019

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CIBE 2019

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PSA handled more containers this year


Singapore-based PSA International handled 8.4 per cent more containers in Singapore in the first 11 months this year from a year earlier, bolstered by increased global trade.
The container terminal operator handled 20.37 million 20-foot standard containers at its Singapore terminals in January to November, from 18.79 million a year earlier, PSA said in its website yesterday. Singapore overtook Hong Kong as the world's busiest container port in the first 10 months of this year.
PSA, Hong Kong's Hutchison Whampoa and other port operators have been benefiting from increased consumer demand by the US and Europe for low-cost goods made in China and other Asian countries that has fuelled growth in world trade. About 80 per cent of global trade is moved by sea.
PSA said its ports worldwide, including operations in Hong Kong, China and India, moved 37.25 million containers in the first 11 months, 23 per cent more than a year earlier.
PSA and Jurong Port together handled a combined 21.2 million containers here for the first 11 months, 9.3 per cent more than the previous year, according to the Business Times.

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