Terminal operator PSA International’s volume increased by 9.1% in 2018, with strong growth in its terminals around the world, including its flagship in Singapore, according to a statement.
PSA says its Singapore flagship grew by 8.9%, contributing 36.1 million TEU to the Group’s total traffic for 2018.
The Group’s other terminals around the world grew by 9.3%, handling 44.69 million TEU. The news comes after the Maritime and Port Authority of Singapore (MPA) announced the port had enjoyed strong growth in 2018, which PTI reported on.
Speaking about the results, Tan Chong Meng, CEO, PSA International credited the jump in volume on the Group’s ability to handle the ever-changing global business environment.
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Furthermore, Meng said the Group will be looking to expand its portfolio of ports and terminals in 2019: “2018 was a dual-speed year. The slow but steady pace of global container trade growth continued, despite geopolitical shifts and rising trade barriers.
“At the same time, there was a surge in digitalization activities within the global supply chain which promised better visibility and efficiency, while the industry continues to grapple with issues of data standardization and collaboration.
“Against this backdrop, the PSA Group has achieved good volume growth, thanks to the support from our customers and partners globally.
“I would like to express my deepest appreciation to our unions, staff and management for their steadfast dedication and spirited contributions throughout the year. They handled the increased complexity and operational demands from the new state of shipping alliances with aplomb, enabling PSA to be a valued partner to our customers.
“We will continue to build on our global network of ports while leading the charge towards co-creating an Internet of Logistics – an ecosystem that is plug-and-play, that links up a mesh of communities through interoperability, and which allows us to innovate boldly.
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