In 1996, the PSA achieved throughput of 12.95 million TEUs, an increase of 9.3 per cent when compared to the previous year's figures.
Hong Kong reported handling 13.2 million TEUs in 1996, up from 12.5 million TEUs in 1995, according to Hong Kong Marine Department director Ian Dale.
In volume terms, the PSA claims its growth was the highest of any port in the world. The 9.3 per cent contrasts with Hong Kong's growth of 5.6 per cent.
"I am happy with PSA's performance. (It) has done well and will aim to do even better in 1997," PSA CEO, Khoo Teng Chye, said.
Growth was relatively steady throughout 1996. This year's performance will be affected largely by how the electronics sector performs and, to a lesser extent, how regional rivals, such as Malaysia's Port Klang, develop market shares.
The big event for the PSA this year will be the company's planned corporatisation. Originally scheduled for April, this is now likely to be delayed "a few months", Khoo said.
Meanwhile, PSA's strategy to develop international port interests is proceeding as planned.
Its recently-formed international business division is examining joint venture and acquisition potential in global logistics and port management fields.
"PSA aims to derive 20 per cent of its revenues from overseas ventures within 10 years," PSA International Business Division (IBD) president, Goon Kok Loon, said, adding that its experience and efficiency should make it a sought after partner.
"By co-operating with us they can leapfrog the initial port development stages and avoid some of the pitfalls," Goon said, adding that the PSA plans to launch three or four ventures during the next five years which will be a combination of port management and IT applications.
The PSA's first such venture was in Dalian, China, where it entered a joint venture with the Dalian Port Authority to operate and manage Dalian Container Terminal.
The terminal handled 190,000 TEUs during its first six months of operation, Goon said.
"Dalian Container Terminal will have nine quay cranes and 25 rubber-tyred gantry cranes and a handling capacity of one million TEUs by the end of 1997," he said.
The IBD is currently appraising several potential ports in foreign markets such as the Indian sub-continent, Korea, Myanmar and Indonesia.
"The Jawaharlal Nehru Port Trust has invited container terminal operators to bid for the development, operation and maintenance of new container berths at the port," Goon said. "The project is on a build-operate-transfer basis for a licence term of 30 years to the successful bidder."
The project development cost is projected at about US$200 million, he said.
"PSA has bid for this project together with its partners; Samsung Corporation, Seletar Investments, Neptune Orient Lines and Samrat Shipping, a Mumbai-based shipping agency," he said.
The division is also examining investment possibilities in southeast Asia.
"For Ujung Pandang, Indonesia, we are still awaiting for our Indonesian partners, PT Sulwood Utama Corporation, to sort out details before working on the joint venture agreement for the ICD (inland container depot)," Goon said.