Chasing new growth markets

“We made good progress on our portfolio of ports in China and Colombia. We also made various investments in facilities and equipment across the Group as we upgraded our capability to better serve our clients’ needs,” said Mr Fock Siew Wah, Group Chairman, PSA International.

PSA’s flagship terminal in Singapore meanwhile achieved 32.24m teu with a growth of 3.1% year on year. The operators other terminals delivered a throughput of 29.57m teu, representing an increase of 6.3% over 2012 on a like for like basis. In addition to this net profit for the year increased by 13.4% to S$1.43bn – partly attributed to one off income from asset disposal.

PSA has been forging ahead with its strategy to boost its presence in "new markets" in 2014 with its eye firmly on India.

The operator is the highest bidder in the tender for the development of the fourth container terminal inJawarharlal Nehru Port and it has been named as the successful bidder in the tender for container operations at the Union government-run Kolkata Port.

But forging ahead with its strategy for 2014 doesnt come without a word of caution.

Mr Fock Siew Wah said there would continue to be the persisting challenges of volatility, uncertainty and unevenness of growth that plagued the industry 2013, which will remain throughout 2014.

“We have to remain agile, tread with caution and work closely with our customers and partners to seize the opportunities while avoiding the pitfalls. I remain confident in our ability as a Group to overcome the challenges that come our way,” he said.