PSA saw its first decline in containers handled across its 28 ports worldwide last year, recording a drop of 9.9% in throughput to 56.9 million teu.

       CEO Eddie Teh said the last two months of 2009 and the first two months of 2010 "showed tentative signs of recovery", but remained cautious.

       "The road ahead will be bumpy and uncertain, and all indications point towards a slow and drawn-out recovery, with different regions rebounding at different rates," he said.