PSA International reports 5.2% volume growth in 2019

PSA International handled 85.2 million twenty-foot equivalent units (TEUs) of containers at its port projects around the world for the year ending Dec 31, 2019.

Announcing this on Tuesday, the group said its volume increased by 5.2 per cent over 2018, with flagship PSA Singapore contributing 36.9 million TEUs (+1.6 per cent) and PSA terminals outside Singapore handling 48.3 million TEUs (+8.1 per cent).

Tan Chong Meng, group CEO of PSA International, said this was against a backdrop of trade wars, climate action and varying technological impact on business and society.

"By welcoming new terminals like DCT Gdansk, PSA Halifax and Penn Terminals into our fold, we have broadened our reach and ability to offer greater connectivity to new economies in the Baltics and North America. Beyond our traditional port domain, we also redoubled our efforts to develop more transport options for cargo owners and movers through our new PSA Cargo Solutions arm," he said.

"We also continued to develop CALISTATM as a value-adding and interoperable platform for stakeholders in the global supply chain with Global eTrade Services."

Mr Tan added that in 2020, the group aims to empower supply chain stakeholders to move their goods with greater intelligence and agility through the Internet of Logistics, and to work with partners to enable greater sustainability for the whole supply chain.