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‘Container consolidation giving rise to uncertainties as well as opportunities’: PSA

‘Container consolidation giving rise to uncertainties as well as opportunities’: PSA

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The head of one of the world’s top container terminal operators has admitted times are tough for those in the port sector.

In announcing results for 2016, Tan Chong Meng, group CEO of Singapore-headquartered PSA International, said: “The tough business environment is likely to continue into 2017 but that is not the whole story. We may witness more system-wide changes brought on by the convergence of slow market growth, emerging technologies and new business needs. Rapid consolidations in the container liner industry are giving rise to uncertainties as well as opportunities. New shipping service deployments and products will hit the market, demanding adjustments and adaptations by not only terminal operators, but players big and small in the global supply chain.”

PSA handled 67.63m teu at its 40 terminals across 16 countries last year, up 5.5% year-on-year, with its flagship Singapore terminals accounting for 30.59m teu.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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