PSA Increases Global TEU by Nearly 10% in 2017


PSA International, a Singapore-headquartered terminal operator, handled 74.24 million TEU in 2017, an increase of 9.8% over 2016.

Flagship PSA Singapore Terminals contributed 33.35 million TEU, an increase of 9%, with PSA terminals outside Singapore handling 40.89 million TEU, up by 10.4%.

In a statement, Tan Chong Meng, Group CEO of PSA, said that the company had shown “resilience” and performed “reasonably well” against tough competition, technological forces and IT security threats.

Tan added: “In 2017, the global economy saw some recovery and bright spots of growth although the shipping industry continued to face challenges as the huge wave of consolidation and alliancing in 2016 began to manifest its full effects operationally.

“The word ‘disruption’ has moved from being a buzzword to being the norm for most industries, reflecting the accelerated pace of change and leaving no industry untouched.”

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As one of the leading global port groups, PSA participates in around 40 terminals in 16 countries across Asia, Europe and the Americas with flagship operations in PSA Singapore Terminals and PSA Antwerp.

Looking forward to the next year, Tan said that the company would be preparing for a future where logistics and supply chain needs are “transformed by new technology, trade, manufacturing and e-commerce dynamics”.

He said: “As we sail into 2018, we are cognizant that the world will continue to grapple with uncertainty geopolitically, economically and socially.

“The way businesses and consumers engage, transact and collaborate continues to evolve, and will have a further impact on the form and flow of the global supply chain.”

Read more: A.P. Moller – Maersk and IBM have announced a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology

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