Singapore: Tan Chong Meng, group ceo of terminal operator PSA, has said the container industry must get used to slower growth. In a rare public appearance, Tan, who has been in the job since last year, was speaking as chairman of the opening session of the Sea Asia conference, co-organised by Seatrade and the Singapore Maritime Foundation.
“For the next five to 10 years, growth that was very high before is behind us,” he told the 200-odd delegates attending the session.
“There is a lowering intensity of GDP growth versus container growth,” he said, a trend that has been noticeable for the last two to three years.
With the rise of China and vastly growing intra-Asia trade tan said: “The flavor of the markets is changing.” [09/04/13]
