PSA International Leads Global Terminal Growth
PSA International has been reaffirmed as the world’s top global terminal operator, according to the latest report from UK consultancy Drewry. The report highlights a significant surge in worldwide container handling capacity, projected to see its largest increase since the global financial crisis. In the equity-adjusted rankings, PSA International achieved a throughput of 67.2 million TEUs, marking a 7.3% rise.
Major Players in the Container Terminal Sector
In the annual rankings, PSA International dominates the competition, followed closely by China Merchants and COSCO, which are also major players in the container handling market. The increasing throughput is a testament to the growing demand for cargo transport, spurred by recovering global trade and improving post-pandemic conditions.
Several cash-rich global carriers, including MSC, CMA CGM, and Hapag-Lloyd, have enhanced their terminal operating arms, showcasing a robust M&A-led expansion strategy. Eleanor Hadland, Drewry’s senior analyst for ports and terminals, noted that these strategies are critical for gaining access to established port markets. This trend underscores a competitive environment among terminal operators as they seek to capitalize on expanding global trade routes.
Looking ahead, Drewry forecasts that global container handling capacity will rise by 4.8%, equivalent to 64 million TEUs, in 2025. This anticipated growth represents the most considerable annual increase since the financial crisis, fueled by the current buoyant market conditions. Hadland emphasized that the post-pandemic period has been characterized by significant port and terminal congestion, which has prompted numerous upgrade and expansion projects to enhance operational efficiency.
Future Outlook for Container Handling
The report’s optimistic projections reflect the ongoing recovery in the shipping industry, as operators strive to meet rising demand. Investments in terminal upgrades and expansions are crucial for alleviating congestion and improving service delivery. With the global economy gradually stabilizing, the container shipping sector is poised for a period of significant development.
As the industry evolves, terminal operators are expected to continue innovating and investing in infrastructure to accommodate growing volumes of cargo. The competition among major players will likely intensify, leading to further advancements and expansions in the sector. The outlook for container handling remains promising, with operators gearing up for an era of growth and innovation.
