Companies
PSA: Singapore Surpasses 40 Million TEUs in 2024
PSA Singapore sets a new record with over 40 million TEUs in 2024, solidifying its role as the world’s top transhipment hub.
Headline
PSA Singapore sets a new record with over 40 million TEUs in 2024, solidifying its role as the world’s top transhipment hub.
Context
As the world’s largest transshipment hub operator, PSA Singapore is crucial in connecting Asia and beyond. PSA offers unrivalled connectivity, enabling seamless cargo movement across international supply chains. The company’s long-standing commitment to efficient, resilient, and sustainable port operations drives its success. PSA International group CEO Ong Kim Pong remarked, “This record throughput for PSA’s flagship terminal in Singapore is a remarkable milestone and exemplifies our commitment to keeping global trade flowing. Our success is founded on the trust and partnership we share with our management, staff, unions, customers, and partners.”
Evidence
Pending intelligence enrichment.
Analysis
PSA’s “Node to Network” strategy focuses on connecting its ports and services more closely to create a more intelligent, more efficient logistics system. This means bringing together port operations and nearby services like warehousing and transportation to work as one connected network. PSA is investing in advanced technologies such as automation, data analytics, and eco-friendly port solutions to make this happen. These tools help PSA handle cargo faster, make better decisions, and reduce its environmental impact — all while staying ready for the future needs of global shipping and trade. Also read: Global PC shipments up 3% in Q2, Apple leads with 21% surge Also read: AI boosts consecutive periods of growth in PC shipments On 24 December 2024 , PSA Corporation Ltd reached a significant milestone by handling over 40 million containers (TEUs) at its main terminal in Singapore. This breaks its previous record of 38.8 million TEUs in 2023 and shows how strong and vital the company is in keeping global trade moving smoothly. 2024 has brought its share of challenges—from supply chain disruptions to global tensions and economic uncertainty. Despite these hurdles, PSA Singapore has proven its resilience and strength. Reflecting on the achievement, Nelson Quek, Regional CEO of Southeast Asia, said, “In what has been an eventful year for the industry, this achievement cements PSA Singapore’s position as the world’s transshipment hub of choice.”
Key Points
- The milestone reinforces PSA’s position as the world’s premier transhipment hub
- PSA Singapore sets new annual container throughput record, exceeding 40 million TEUs in 2024
Actions
Pending intelligence enrichment.
