PSA International container traffic up
Singapore port operator PSA International said on Monday its Singapore terminals moved 10.9 per cent more containers in the first eight months of 2008 compared to a year ago.
The firm, which runs ports in Singapore and abroad, said in a statement on its website that it handled 19.75 million twenty-foot equivalent units (TEUs), a standard industry measure, compared with 17.81 million TEUs in the same period last year.
Singapore's government is spending S$2 billion (US$1.5 billion) to expand its home port's capacity by 40 per cent i five years, to cope with higher volumes expected from global trade.
PSA also runs ports in Belgium, China, Hong Kong, India, Italy, Japan, the Netherlands, Panama, Pakistan, Portugal, South Korea, Thailand, Turkey, and Vietnam.