PSA International Books Strong 2013 Performance

PSA International (PSA) posted 61.81 million TEUs (Twenty-foot Equivalent Units) in 
2013, increasing 2.9 per cent from the previous year. Adjusting for port portfolio changes, the group's like-for-like volume growth over 2012 was 4.6 per cent, with stronger performance from the overseas terminals. 
 
PSA’s flagship Singapore Terminals achieved 32.24 million TEUs with a growth of 
3.1 per cent year-on-year. PSA terminals outside Singapore delivered a total throughput of 29.57 million TEUs, representing an increase of 6.3 per cent over 2012 on like-for-like basis. 
 
PSA Group revenue and expenses were higher by 3.3 per cent and 4.4 per cent respectively. Net profit for the year increased by 13.4 per cent to S$1.43 billion, partly attributed to one-off income from asset disposals. 
 
“PSA has performed creditably amid a difficult year in 2013 which saw unsettling volatility, much uncertainty and uneven growth across the global economic landscape,” said Mr Fock Siew Wah, Group Chairman, PSA International. “We achieved 61.8 million TEUs and made good progress on our portfolio of ports in China and Colombia. We also made various investments in facilities and equipment across the Group as we upgraded our capability to better serve our clients’ needs. Our focus on service and on our customers did not waver and our commitment to excel and provide best-in-class service was not compromised. I want to express our thanks to our customers and business partners for their continued trust, support and constant high expectation of our ability to deliver. I want to also thank the PSA management, unions and staff for rising to the challenges of a difficult year. 
 
“Looking ahead, I foresee persisting challenges – the volatility, uncertainty and unevenness of growth that plagued 2013 will stubbornly remain as common features for 2014. We have to remain agile, tread with caution and work closely with our customers and partners to seize the opportunities while avoiding the pitfalls. I remain confident in our ability as a Group to overcome the challenges that come our way.” 
 
Mr Tan Chong Meng, Group CEO, PSA International, said: “The container shipping and port industry has been rocked by game-changing developments in recent years which precipitated the shake-up we have seen in 2013. Against this backdrop, PSA as a global terminal operator continues to serve close to 10 per cent of the world’s market share in container handling, recording a global throughput of 61.8 million TEUs in 2013, an increase of 2.9 per cent from the year before. Adjusting for portfolio changes, our like-for-like throughput grew by 4.6 per cent. I would like to thank all our customers for continuing to make PSA facilities their ports of call. A hearty thank you is also due to all staff and unions in PSA, for their earnest feedback, congenial partnership and steely determination in helping our enterprise make steady progress. 
 
“Over the next few years, we will continue to invest in new terminals and upgrade older ones, ploughing back a high proportion of our annual earnings to serve our customers’ future requirements and growth. There is no foretelling the future with certainty but we can prepare ourselves by buttressing the range and depth of capabilities we have to offer our customers and partners, with a commitment to stay alongside them through the winds of change, ready to meet their ever-evolving needs with best-in-class service.” 

PSA International is one of the leading global port groups. PSA participates in port projects across Asia, Europe and the Americas with flagship operations in Singapore and Antwerp.