PSA handles record 91 million TEU for 2021

Sunset behind three gantry cranes on Singapore harbour quayside, Singapore, Southeast Asia. Founded by Sir Stamford raffles in 1819 as a trading post of the British Empire, Singapore is now a sovereign state and an important transit point and trading hub for freight, commerce and financial transactions worldwide, as one of the four Asian Tigers trading partners.

PSA International Pte Ltd (PSA) handled record container volumes of 91.5 million TEU at its port projects around the world for 2021.

The group’s volume increased by 5.6% over 2020, with flagship PSA Singapore contributing a record 37.2 million TEU (+1.6%) and PSA terminals outside Singapore handling 54.3 million TEU (+8.4%).

Tan Chong Meng, Group CEO of PSA, said, “The world in 2021 continued on its roller-coaster ride with widespread supply chain disruptions and congestions coupled with sustained recovery in global trade and demand.

“Despite the multiple hurdles posed by the global pandemic, PSA contributed to keeping supply chains safe and open for our customers, partners and stakeholders worldwide. My heartfelt appreciation goes out to our staff Group-wide, unions and management for delivering a strong performance and aptly demonstrating their agility and tenacity as a team.”

Looking ahead in 2022, the CEO said supply chain issues “are expected to remain” – but adds there are also opportunities in the crisis.

“Our continued relevance will depend on our ability to seize them,” he said. “PSA will continue to seek win-win partnerships and innovate beyond port operations to provide more efficient and resilient cargo solutions that benefit the greater supply chain ecosystem and catalyse the shift towards sustainable trade.”

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