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SINGAPORE global port operator PSA International (PSA) posted a 9.8 per cent year-on-year increase in worldwide throughput to 74.2 million TEU in 2017.

Its flagship PSA Singapore Terminals contributed 33.35 million TEU, up nine per cent year on year while overseas terminals contributed 40.89 million TEU, up 10.4 per cent.

"In 2017, the global economy saw some recovery and bright spots of growth although the shipping industry continued to face challenges," said PSA Group CEO Tan Chong Meng.

The company, he said, was preparing for a future where logistics and supply chain needs are now transformed by technology, trade, manufacturing and e-commerce.

"The huge wave of consolidation and alliancing began to manifest its full effect operationally. The word 'disruption' has moved from being a buzzword to being the norm," said Mr Tan.

He said the group had demonstrated resilience and performed reasonably well against the challenging backdrop and tough competition.

"Amid the many business and technological forces and IT security threats buffeting us, we remain committed to adapting to and anticipating the changing needs of our customers," said Mr Tan. 

  • 2018-01-23