PSA nears 95 million TEU in 2023

PSA breaks container volume record in 2023

PSA International Pte Ltd (PSA) has announced a record-breaking year in 2023, handling a total of 94.8 million TEU across its port terminals worldwide.

PSA’s main facility in Singapore reportedly contributed 38.8 million TEU (+4.8 per cent), while the company’s facilities outside of Singapore handled 56 million TEU (+3.9 per cent). Compared to the same time in 2022, the Group’s volume climbed by 4.3 per cent.

Tan Chong Meng, Group CEO of PSA, said: “Though there was a concerted push for economic recovery in many developed countries, the global economy remained fraught with turbulence in 2023 and the world continued to experience inflation, rising interest rates, tight labour markets, geopolitical tensions and ongoing wars, all of which destabilised the outlook for recovery and disrupted supply chains.

“For exceeding expectations in the face of these challenges, I am extremely proud of our management, staff and unions who have worked tirelessly alongside our customers across PSA’s ports, cargo solutions, marine and digital businesses, to honour our commitment to service and operational excellence.”

READ: PSA Sines obtains two Super Post Panamax STS cranes

Despite the uncertainty surrounding the global economic recovery and potential geopolitical challenges in 2024, PSA has affirmed its commitment to expanding port-related businesses and bolstering supply chain resilience.

This month, PSA Mumbai reached a significant milestone in its emissions reduction path with the commissioning of its 7.8 megawatt (MW) solar farm with O2 Power.

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