The majority of the volume came from its international business with 10.4% jump in volumes to 40.89m teu. Its flagship Singapore terminals also enjoyed good growth with a 9% increase in volumes to 33.35m teu.
While in its homebase of Singapore PSA has been able to position itself to benefit from consolidation and shifting alliances ceo Tan Chong Meng noted “disruption” had moved to be the norm for most industries.
PSA is focused on adapting its operations to meet the future market challenges that come from disruption.
“Amid the many business and technological forces and IT security threats buffeting us, we remain unwaveringly committed to our core focus of adapting to and pre-empting the changing needs of our shipping line customers. In addition, we are also preparing for a future where logistics and supply chain needs are transformed by new technology, trade, manufacturing and e-commerce dynamics,” he said.
Looking to the come year Tan said: “As we sail into 2018, we are cognisant 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 further impact on the form and flow of the global supply chain.”