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PSA records strong volume growth in Singapore and beyond
PSA Singapore handled 36.31m teu last year

PSA records strong volume growth in Singapore and beyond

PSA International handled 81m teu at its port projects around the world in 2018, with its flagship Singapore facility and its global terminals contributing to overall volume growth of 9.1%.

PSA Singapore handled 36.31m teu, representing growth of 8.9%, while PSA’s facilities outside Singapore handled 44.69m teu, an increase of 9.3%.

Tan Chong Meng, Group CEO of PSA, said: “2018 was a dual-speed year. The slow but steady pace of global container trade growth continued, despite geo-political shifts and rising trade barriers.

“At the same time, there was a surge in digitalisation activities within the global supply chain which promised better visibility and efficiency, while the industry continues to grapple with issues of data standardisation and collaboration.”

He credited the company’s unions, staff and management for their handling of “increased complexity and operational demands from the new state of shipping alliances”.

Looking ahead to 2019, Tan stated: “We will continue to build on our global network of ports while leading the charge towards co-creating an Internet of Logistics – an ecosystem that is plug-and-play, that links up a mesh of communities through interoperability, and which allows us to innovate boldly.

“We pledge our commitment to continue to serve our shipping line customers to the best of our abilities, even as we pursue win-win partnerships with cargo owners and movers, and stretch our capabilities as a team to propel us closer towards our vision of a truly connected and transformed global supply chain.”