News / Steady industry growth and surge in digitalisation a recipe for success at PSA

Port of Singapore. Photo: Steve Lovegrove | Dreamstime.com

Singapore box terminal operator PSA handled 81m teu last year across its global network, growth of 9.1%, with international volumes increasingly dominating its throughput profile.

Its flagship Singapore terminals saw growth of 8.9%, to reach 36.3m teu, while its international facilities handled 44.69m teu, an increase of 9.3%.

Group chief executive Tan Chong Meng said, “2018 was a dual-speed year. The slow but steady pace of global container trade growth continued, despite geo-political shifts and rising trade barriers.

“At the same time, there was a surge in digitalisation within the global supply chain, which promised better visibility and efficiency, while the industry continues to grapple with issues of data standardisation and collaboration.

“Against this backdrop, PSA Group has achieved good volume growth, thanks to the support from our customers and partners globally. I would like to express my deepest appreciation to our unions, staff and management for their steadfast dedication and spirited contributions throughout the year.”

Late December saw the operator and consolidated Japanese container carrier Ocean Network Express (ONE) sign a deal to jointly develop a new box terminal at Singapore’s Pasir Panjang facility.

The terminal is scheduled to commence operations in the first half of 2019 and operate four mega container berths with a combined annual handling capacity of 4m teu.

ONE chief executive Jeremy Nixon said last month: “Through this joint venture in Singapore, ONE will be enabled to further enhance its terminal and vessel planning operations in an even closer cooperation with PSA. This will improve our service reliability and benefit our customers through better service levels.”

Today Mr Tan promised PSA would also this year continue its digital investments, as well as “increasing its engagement with shippers and logistics service providers”.

“We pledge our commitment to continue to serve our shipping line customers to the best of our abilities, even as we pursue win-win partnerships with cargo owners and movers, and stretch our capabilities as a team to propel us closer towards our vision of a truly connected and transformed global supply chain,” he said.