News / Gloomy picture of next few years at container ports as volumes recover slowly

Container ports “will take years” to recover from the coronavirus pandemic, but accelerating trade regionalisation could increase hub-and-spoke transhipment services.

According to PSA International CEO Tan Chong Meng, the industry should be prepared for a recession.

“Bankruptcies will increase, unemployment pressures will rise and consumption will remain relatively sluggish in the medium term,” he noted in a letter to employees.

“Therefore, our business, which relies on trade volumes, will likely be set back two to three years – depending on how long the ...