When the senior management team gathered in 2003 for the strategic planning meeting, it faced a number of tough decisions. While the Port of Singapore was still viable and profitable, the battle with PTP had significantly weakened PSA's position as the preeminent East Asian transshipment hub. PTP's lack of retaliation gave the appearance of a hard-won PSA victory. But how long would PTP remain dormant? Could PSA let down its guard at last?or should it gird itself for more competitive exchanges to come?