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PSA ports hit milestone 100m teu worldwide in 2024PSA ports hit milestone 100m teu worldwide in 2024

Singapore-headquartered PSA International’s container terminals hit a historic landmark in for container handling across its global portfolio.

Marcus Hand, Editor

January 16, 2025

2 Min Read
PSA's Pasir Panjang Terminals
Credit: PSA

PSA International reported 5.6% growth in throughput across its worldwide container terminal business to handle 100.2 million teu last year.

The record throughput came against a backdrop of geopolitical tensions and supply chain disruption including large scale diversions by container lines from the Red Sea to transit via the Cape of Good Hope on voyages between Asia and Europe.

Peter Voser, Group Chairman of PSA, said, “2024 has been a year of measured recovery for the global economy, shaped by ongoing geopolitical conflicts, trade tensions, national elections, fiscal pressures and fluctuating interest rates. Despite the challenges, we are proud to have achieved this important throughput milestone for the Group.”

PSA’s flagship Singapore Terminals handled 40.9 million teu in 2024 an increase of 5.5% over the previous year. The terminals at its homebase passed the 40 million teu barrier for the first time in a year on 24 December 2024.

The terminals in Singapore were put under pressure in the second quarter of 2024 as lines restructuring of services to transit via the Cape of Good Hope resulted in a bunching of vessel arrivals combined with a surge in cargo volumes from nervous shippers looking to beat the peak season. This resulted in delays in berthed reported to reach up to seven days. PSA responded by reactivating previously mothballed berths and accelerating commissioning of new berths in Tuas Port.

Related:PSA ports hit milestone 100m teu worldwide in 2024

International terminals outside Singapore handled 59.2 million teu last year, a 5.7% increase over the year.

Ong Kim Pong, Group CEO of PSA, said, “PSA’s resilience, innovation, and teamwork have enabled us to achieve this extraordinary milestone of handling 100 million teu of containers in a single year.

On the coming year PSA expects waters to remain choppy. “Looking ahead, we anticipate further economic uncertainty,” said Voser.

“Across PSA’s diverse portfolio of ports, supply chain solutions, marine, and digital businesses, we remain committed to working closely with our stakeholders to enhance the resilience and sustainability of global trade.”

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About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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