Container volumes handled by PSA International dips in 2022

PSA International handled slightly lower container volumes last year amid a challenging environment mired in supply chain difficulties and other disruptions.

The group owned by state investor Temasek handled container volumes of 90.9 million 20-foot equivalent units (TEUs) at its port projects around the world, a decrease of 0.7 per cent from 2021, a record year that saw volumes climb 5.6 per cent.

Flagship PSA Singapore contributed 37 million TEUs in 2022, down 0.7 per cent. PSA terminals outside Singapore handled 53.9 million TEUs, down 0.7 per cent.

Each TEU is the standard dimension of one shipping container.

PSA group CEO Tan Chong Meng said: “The world experienced another challenging year in 2022 and although most countries were emerging from the global pandemic, many continued to suffer from the negative aftershocks which were compounded by the war in Ukraine, higher energy prices, global inflation and supply chain disruptions.”

PSA’s network encompasses 160 locations in 42 countries around the world. Its portfolio comprises over 60 deep sea, rail and inland terminals, and affiliated businesses in supply chain management, logistics, marine and digital services.

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In April, the group completed its acquisition of supply chain and logistics company BDP International, from New York-based private equity firm Greenbriar Equity Group.

Tan said in a statement on Monday (Jan 16): “PSA stands steady against the headwinds that may come our way as we continue to build on our core business of ports and – coupled with the acquisition of BDP International last year – widen our focus in enabling more agile, resilient and sustainable supply chains.”