S'pore port authority plans more expansion<\/p>\n
SINGAPORE (AFP): The Port of Singapore Authority (PSA) has
\nunveiled plans to expand beyond its home base after reporting
\nanother robust performance in 1994 when it retained its position
\nas the world's busiest port.<\/p>\n
The PSA's chief executive David Lim told reporters a panel was
\nlooking into the corporatization of the authority ahead of its
\npossible privatization in what he called a \"two-dance step.\"<\/p>\n
Lim said Friday the PSA intended to look at how to expand into
\nother parts of Southeast Asia and beyond to India and China, and
\neventually other parts of the world.<\/p>\n
\"This is the strategic intent,\" said Lim, 39, who became the
\nPSA chief in February. \"We will consider, we will smell out every
\nproposal,\" he said.<\/p>\n
\"We are actively discussing one particular project and
\nconsidering and exploring several others,\" Lim said.<\/p>\n
Regional economies such as India, China and Indonesia are
\nfacing the challenge of \"spreading out their industrialization,\"
\nLim said, creating the need for new infrastructure.<\/p>\n
The PSA could set up overseas ports, offer managerial and
\ntechnical assistance and set up logistic facilities such as
\nwarehouses and terminals.<\/p>\n
Only projects that are cost effective, financially viable and
\nare not treated as non-profit infrastructure by their promoters
\nwill be considered by the PSA, Lim said.<\/p>\n
\"I don't think we need to sell off anything to fund regional
\noperations,\" he said. \"They (overseas projects) will start at a
\nmuch smaller scale. May be 20 years down the road, they will
\nreach our size.\"<\/p>\n
Corporatization under study now would give PSA additional
\nflexibility in decision-making and reaching agreements outside
\nSingapore.<\/p>\n
Go-regional<\/p>\n
The \"go-regional\" campaign will not be at the expense of the
\nSingapore port, which the PSA intends to expand and strengthen to
\nreinforce its reputation as one of the world's most efficient
\nports, Lim said.<\/p>\n
In 1994, it retained its position as the world's busiest port
\nin terms of shipping tonnage for a 10th straight year. According
\nto Lim, 101,107 vessels called. Tonnage rose by nine percent from
\na year ago to 678 million tons.<\/p>\n
In container traffic, it became the only port after Hong Kong
\nto handle more than 10 million TEUs (Twenty-foot Equivalent
\nUnits), making for compound growth of 22 percent over 10 years.
\nContainer traffic rose 14.9 percent to 10. 4 million TEUs.<\/p>\n
Operating income rose 15.4 percent to S$1.68 billion (US$1.2
\nbillion). Operating surplus increased 14.7 percent to S$673.9
\nmillion.<\/p>\n
Singapore also continued to be the world's top bunkering port,
\nwith 17.6 million tons of bunkers lifted by vessels last year.<\/p>\n
At the recent Asian Freight Industry awards, PSA won three
\nawards -- best seaport in Asia, best container terminal operator
\nand best warehouse operator.<\/p>\n
\"It underscores the commitment we have to the customer, to
\nkeep our home base in Singapore strong, to run a little bit
\nharder and faster,\" said Lim, an Australian-educated civil
\nengineer.<\/p>\n
He said the PSA would further fine-tune its operations to
\nprovide \"very high value\" services to its customers and enhance
\nits reputation as an \"intelligent port\" with more investments in
\nautomation to increase throughput and reduce waiting time for
\nships.<\/p>\n
PSA is investing S$188 million to boost capacity at existing
\nterminals from 13 to 16 million TEUs. A new container terminal
\nwith eight berths in the initial phase is being built at a cost
\nof S$2 billion.<\/p>\n
\"The outlook for business activities in 1995 remain bright,\"
\nLim said. \"With our large infrastructure and technology, PSA is
\nwell-positioned to provide fast, comprehensive and reliable
\nservices.\"<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/spore-port-authority-plans-more-expansion-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}