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PSA International posts slight TEU traffic increase

PSA Singapore sees slight increase in traffic
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PSA International’s TEU volume increased by 1.7% year-on-year (YoY) in 2020 despite the worst effects of the COVID-19 pandemic.

The terminal operator said it handled 86.6 million TEU in 2020. At its flagship terminal at the Port of Singapore it handled 36.6 million TEU, a YoY decrease of 0.9%, and its terminals outside Singapore handled 50 million, a YoY increase of 3.7%.

Ports and terminals around the world saw traffic plunge in the early months of 2020, but have since recovered, with some posting record numbers.

Tan Chong Meng, Group CEO of PSA, said, “2020 was an extraordinary year which saw the world collectively respond to the challenges and changes from COVID-19.

“As a Group, PSA has demonstrated agility and performed credibly against the backdrop of a global pandemic and resulting recession, playing our part alongside as an essential business to keep supply chains open safely.

“My deepest appreciation goes out to our staff, unions and management globally who have gone above and beyond throughout the year.

“We are also thankful for the continued support and partnership from our customers, partners and stakeholders, as we collectively strive towards greater resilience and sustainability as a global economy.

“2021 continues to give us the opportunity to Reset and Reform, as a business and as individuals. The way companies and consumers engage, transact and collaborate has evolved at lightning quick pace, and meanwhile, the climate crisis gains urgency.

“PSA will continue to invest and innovate on solutions to improve supply chain transparency and to create possibilities for smarter resource efficiencies. Our goal is to move the world’s goods, for the greater good.”

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