SINGAPOREAN global terminal operator PSA International posted a 1.7 per cent year-on-year decline in net profit to S$1.44 billion (US$1.04 billion) in 2014, drawn on revenues of S$3.83 billion, which increased 2.9 per cent.
PSA International (PSA) posted 65.44 million TEU system-wide throughput in 2014, representing a 5.8 per cent year-on-year increase.
PSA's flagship Singapore Terminals contributed 33.55 million TEU with a growth of 4.1 per cent year on year, and PSA terminals outside Singapore delivered a total throughput of 31.89 million TEU, increasing 7.8 per cent over 2013.
Said PSA chairman Fock Siew Wah: "2014 turned out to be a mixed year for the global economy. PSA's business health depends on global trade and the shipment of goods in containers.
We are therefore truly thankful that, notwithstanding the overall sluggish global economic and trade growth, PSA's group-wide performance held its ground in terms of throughput, revenue and net profit," said Mr Fock.
PSA handled a record 65.4 million TEU in 2014 and experienced volume growth in most markets.
Said CEO Tan Chong Meng: "The industry awoke to harsh new realities: mismatch of mega vessels and ports, more complex alliance arrangements, reduced shipping reliability, port congestion; it was a challenging and uncertain time for the industry.
"As more mega vessels enter service and the workings of the mega alliances go into full swing in 2015, we may continue to see operational challenges this year," said Mr Tan.
PORTS
13 March 2015 - 20:25
PSA International profit down 1.7pc to US$1.04 billion as sales rise 2.9pc
SINGAPOREAN global terminal operator PSA International posted a 1.7 per cent year-on-year decline in net profit to S$1.44 billion (US$1.04 billion) in 2014, drawn on revenues of S$3.83 billion, which increased 2.9 per cent.
PORTS
13 March 2015 - 20:25
PSA International profit down 1.7pc to US$1.04 billion as sales rise 2.9pc
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