Singapore port moves 18.1 million containers

PSA Corp Ltd, which runs the world's second-busiest container port after Hong Kong, said on Friday it moved a record 18.1 million twenty-foot containers in Singapore last year and plans a major expansion to meet demand.
The 2003 figure was up 7.8 percent from the 16.8 million twenty foot equivalent units (TEUs) handled in 2002 and reflects the recovery in the US and growth in China.
PSA said it would build five new berths at a Singapore terminal to expand its annual handling capacity by 20 percent to 24 million TEUs from 20 million TEUs. It currently has 37 container berths in Singapore.
"PSA is now well positioned to ride the recovering regional and global economy and pursue our international expansion plans," said Chairman Stephen Lee in a statement.