One of the world’s largest ports is growing: In 2024, more than 40 million TEU were handled in Singapore for the first time.
Only the year before, the Port of Singapore Authority (PSA) had reached the previous record of 38.8 million TEU. According to the port operator, the new record underlines the continuous growth of the world’s largest transshipment centre. The success is the result of an “unwavering commitment to ensuring a stable, efficient and sustainable cargo flow”.
Ong Kim Pong, Group CEO of PSA International, said: “This record throughput for PSA’s flagship terminal in Singapore is a remarkable milestone and an example of our commitment to keep global trade moving. Our success is built on the trust and partnership we share with our management, employees, unions, customers and partners, for which I am deeply grateful.”
Making greater use of synergies in Singapore
In the future, synergies between port operations and port-related services are to be strengthened. Strategic hubs are to be even better connected to create a coherent ecosystem. PSA Singapore is pursuing a “node to network” strategy, whereby individual players are connected to each other through multiple links.
“In an eventful year for the industry, this achievement reinforces PSA Singapore’s position as the world’s preferred transhipment hub,” said Mr. Nelson Quek, Regional CEO Southeast Asia, PSA International. “I am very grateful to our customers and stakeholders for their trust and support for PSA Singapore as their preferred partner and provider of hub solutions that support the growth and resilience of their networks.”
Last year, the port operator established a joint venture with shipping company Evergreen to operate a new terminal in Singapore. A new logistics centre is also to be built at Tuas Port.
