PSA International handled 91.5 million Twenty-foot Equivalent Units (mTEUs) in 2021, an increase of 5.6% from the previous year. PSA Singapore contributed 37.2 million TEUs, an increase of 1.6% from 2020. PSA terminals outside Singapore delivered a total throughput of 54.3 million TEUs, increasing 8.4% over 2020.

PSA Group revenue increased by 11.7% on higher throughput and storage revenue. Profit from operations increased by 13.7%, and overall net profit for the year increased by 18.2% from the previous year due to the growth in other income and lower financing cost. As a whole, the Group’s balance sheet remains strong.

PSA International Group Chairman Peter Voser said: “The PSA global team has shown its spirit and tenacity throughout a year of supply chain shocks and COVID-related starts and stops. Together with our customers and partners, we have kept supply chains flowing to the best of our ability. This has enabled PSA to put in a record performance for the year, even while we continued our efforts to build positive climate change momentum through our supply chain sustainability initiatives and investments.

On behalf of our Board and Management, I would like to thank all our stakeholders for their continued trust and confidence in PSA. My sincere appreciation also goes out to our Staff and Unions. Their steadfast commitment, partnership and willingness to adapt have been a critical enabler for PSA. Alongside, we have kept each other safe at work, pushed boundaries, uplifted communities and strived to deliver greater efficiencies to the global supply chain.

As we navigate the dynamic forces of change in the new normal, we will continue to nurture our workforce and talent, sharpen our competitive edge and focus on creating long term value for our stakeholders.”

PSA International Group CEO Tan Chong Meng said: “Amidst a backdrop of widespread supply chain disruptions and congestions in 2021, coupled with uneven recovery in global trade and demand, I am grateful to our Management, Staff and Unions who worked tirelessly as a team and in close partnership with all our stakeholders to keep supply chains safe and cargo moving across our network.

As a global port operator and cargo solutions provider, PSA is well-positioned to accelerate the shift towards sustainable trade. We are building up our physical, technological and digital capabilities so that we can provide more innovative cargo solutions and enable agile, resilient and sustainable supply chains.

In our drive to realise the Internet of Logistics vision, we will continue to collaborate with likeminded partners, customers and suppliers. Alone, we each have the potential to achieve success. Together, we will have even wider opportunities to chart supply chain transformation for the greater good and amplify our collective positive impact for all our stakeholders.”

For more information, please click HERE for the press release.