PSA Singapore International has reported that the container volumes it handled last year grew year on year despite the risks brought by the US-China trade war.
The Singapore-based port operator said it handled 85.2 million twenty-foot equivalent units (TEUs) of containers at its port projects around the world for 2019, representing a 5.2% volume increase over 2018.
Its flagship PSA Singapore contributed 36.9 million TEUs or 1.6% higher, while PSA terminals outside Singapore handled 48.3 million TEUs or an increase of 8.1%.
“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,” said Tan Chong Meng, Group CEO of PSA.
“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),” he added.
Following the “good volume growth” for 2019, PSA said this year, it is set on further expanding its network and investing on technology.
“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,” said Tan.
“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,” he added.