Port operator PSA International is not optimistic about a swift recovery in the global market after reporting a double-digit drop in group revenue and decreased container throughput volumes for its terminals."2009 will be remembered as one of the world’s most difficult years with the near meltdown of the financial markets … Like everyone else, PSA was adversely affected," says group chairman Fock Siew Wah.
The group saw its first-ever decline in containers handled across its 28 ports worldwide. It registered a 9.9% drop in throughput in 2009 to 56.9 million TEUs. Full Story
