OOCL extends contract with PSA

OOCL extends contract with PSA

SINGAPORE: Singapore's PSA Corp., facing intense competition
from regional rivals, has received a boost after a major Hong
Kong-based container line extended its long term contract with
the port operator.

"OOCL will continue to use Singapore as our key hub for
Southeast Asia," OOCL managing director Jolland Lau said in a
joint statement Friday.

"We look forward to continuing the long-term win-win
partnership with PSA," he said, adding "we appreciate PSA's new
and flexible approach" amid the difficult business environment.

State-owned PSA operates one of the world's busiest ports but
has been criticized in recent times for inflexibility. -- AFP