PSA expands services, overcomes challenges
PSA International Pte Ltd (PSA) handled 85.2 million Twenty-foot Equivalent Units (TEUs) of containers at its port projects around the world for the year ending 31 December 2019. The Group’s volume increased by 5.2% over 2018, with flagship PSA Singapore contributing 36.9 million TEUs (+1.6%) and PSA terminals outside Singapore handling 48.3 million TEUs (+8.1%).
Mr Tan Chong Meng, Group CEO of PSA, said, “2019 was a year where the PSA Group expanded our horizons, against a backdrop of trade wars, climate action and varying technological impacts on business and society. By welcoming new terminals like DCT Gdansk, PSA Halifax and Penn Terminals into our fold, we have broadened our reach and ability to offer greater connectivity to new economies in the Baltics and North America. Beyond our traditional port domain, we also redoubled our efforts to develop more transport options for cargo owners and movers through our new PSA Cargo Solutions arm. We also continued to develop CALISTATM as a value-adding and interoperable platform for stakeholders in the global supply chain with Global eTrade Services (GeTS).
“Thanks to the efforts of the global PSA team and strong support from our customers and partners, the PSA Group has achieved good volume growth for 2019. My deepest appreciation goes out to our unions, staff and management for their sterling teamwork and steadfast contributions throughout the year.
“As we begin a new decade in 2020, PSA will continue to build on our global network of ports while harnessing technologies to improve our productivity to serve our customers better. Our vision is to empower supply chain stakeholders with the ability to move their goods with greater intelligence and agility through the Internet of Logistics, and to work alongside our partners to enable greater sustainability for the whole supply chain.”