This is the last case in the three-case series (S-0109, S-0110, and S-0111) that explores competitive strategies in a mature industry within the context of the Asia-Pacific region. In April 2003, the 12-month rate cuts that Port of Singapore (PSA) announced in June 2002 would be up for renewal. PSA senior management had to decide whether to extend these discounts for another 12 months or restore prices back to 2002 levels. PTP had been diligently working to increase its operational capabilities over the years and was no longer a distant second to the PSA in service quality and efficiency. How could the PSA position itself for the next round of competitive activity?