Singapore-based port operator, PSA International saw container handling soar in the first half (H1) of 2006, with growth driven largely by its overseas terminals, reports said.

In the period January to June, the company handled 24.41 million 20 foot equivalent units (TEUs), up 28.6% from the same period in 2005.  

PSA operates 4 container terminals and 2 multi-purpose terminals in Singapore, where throughput rose 4.2% to 11.39 million TEUs.  

Meanwhile, the company's overseas operations saw volumes surge 61.9% from the same period in 2005 to 13.02 million TEUs.  Besides Singapore, the company operates terminals in the Netherlands, Belgium, Italy, Portugal, South Korea, Japan, Brunei, India, Thailand and China.

In 2005, the company handled 41.2 million TEUs worldwide.

In April the company announced that it has signed a sale and purchase agreement to acquire a 20% equity and loan interest in Hutchison Whampoa Limited (HWL)’s portfolio of ports.

"This is the biggest investment that PSA has made and it reflects our confidence in these port assets, many of which are in high-volume and high-growth locations. We believe this investment will generate good long-term value for PSA and allows us to benefit from a well-diversified spread of assets globally. PSA will continue to expand its global footprint by investing in opportunities that make good commercial business sense to us," Fock Siew Wah, Chairman of PSA International Pte Ltd, said at the time.