Singapore PSA Terminal Operator Sets Record Passing 40 Million TEU in 2024
PSA Singapore Achieves Record Container Handling
In a remarkable achievement for the maritime industry, PSA Singapore, the largest terminal operator in the country, has surpassed 40 million twenty-foot equivalent units (TEU) handled at its terminal as of December 24, 2024. This milestone comes amidst significant challenges, including disruptions in shipping routes and an increase in transshipment volumes. The achievement underscores Singapore’s position as a leading transshipment hub in the world, despite the ongoing complexities in global trade.
Challenges Faced in 2024
The year 2024 has been eventful for the shipping industry. PSA Singapore faced numerous challenges that impacted its operations. One of the most significant issues was the diversion of vessels away from the Red Sea. Ships were rerouted to sail around South Africa and the Cape of Good Hope for trips to and from Europe. This diversion led to vessel bunching at the port, causing delays in schedules. Ships arrived days behind schedule, which created a backlog of containers waiting to be handled.
As a result of these disruptions, PSA Singapore experienced an increase in transshipment volumes. Many vessels skipped Asian ports to regain lost time, which further complicated the flow of traffic. The Maritime and Port Authority of Singapore reported that the situation required additional box handling. Ships utilized their time at berth to shift containers, reflecting changes in their schedules. Despite these operational hurdles, PSA Singapore managed to handle over 40 million TEU, an increase from the previous record of 38.8 million TEU in 2023.
This growth positions Singapore as a strong competitor to major Chinese ports, which are the only other ports that regularly handle over 40 million TEU. However, Shanghai remains the world’s busiest port, having surpassed 50 million TEU in 2024. The resilience shown by PSA Singapore in overcoming these challenges highlights its commitment to maintaining the flow of global trade.
Future Developments and Expansion Plans
Looking ahead, PSA Singapore is in the midst of a significant expansion project. The company is transitioning from its older terminal operations to the new Tuas facility. Once completed, the Tuas terminal will have a capacity of over 65 million TEU, making it one of the largest in the world. Currently, 10 berths at Tuas are operational, with an 11th berth expected to start operations soon. The completion of this terminal will enhance Singapore’s capabilities in handling container traffic.
Singapore’s development timeline includes the relocation of existing operations from Tanjong Pagar, Keppel, and Brani Terminals to Tuas by 2027. The Pasir Panjang Terminal, which reopened berths in 2024 to alleviate the backlog, will continue to operate into the 2040s before transitioning to Tuas. Currently, PSA operates 55 berths at Tuas and Pasir Panjang, with a capacity to handle 43.9 million TEU annually. The company also operates Singapore’s first dedicated car terminal, which opened in 2009 at Pasir Panjang. These developments position PSA Singapore as a reliable global port operator and a trusted partner for cargo stakeholders in the ever-evolving landscape of international trade.
