Acknowledging the negative impact of the migration of the core services of Maersk Sealand, which until a year ago was Singapore port’s largest customer, PSA Corporation, the terminal operator of the port has forecast its total throughput this year will witness a sharp decline by about 10 per cent to about 15.3 million TEUs from 17.04 million TEUs recorded in 2000.

The relocation of Maersk to Pelabuhan Tanjung Pelepas in Johor is estimated to have resulted in a loss of about 1.8 million TEUs.

PSA’s loss has been reflected in the sharp gain by PTP in its throughput this year.

PTP handled a record 541,329 TEUs from April - June 2001, an increase of 40%
from quarter one year 2001's 386,394 TEUs. This puts PTP's half yearly
performance at a total of 927,723 TEUs.

The traffic consisting of mainly transshipment (95 per cent) was contributed by Maersk, which has a 30 per cent stake in PTP.

Aside from the loss of Maersk, Singapore, the world’s largest transshipment hub port, is also feeling the impact of the global slow-down as reflected in the decline of about 13per cent in the traffic volume handled in the first five months of this year.