PSA International Pte Ltd (PSA) has signaled an accelerated focus on pushing its sustainability and digitalization goals after the global port operator and cargo solutions provider reported record performance last year.

PSA handled 91.5 million Twenty-foot Equivalent Units (TEUs) in 2021, representing a 5.6% increase from the previous year with PSA Singapore contributing 37.2 million TEUs, to this volume which also marked a 1.6% growth from the numbers seen in 2020.

Meanwhile, PSA terminals outside Singapore delivered a total throughput of 54.3 million TEUs, also increasing 8.4% over the year prior.

In its release, the PSA Group said revenue for 2021 grew 11.7% on higher throughput and storage revenue as profit from operations also increased by 13.7%.

Overall net profit was also up by 18.2% from the previous year, which PSA attributed to the growth in other income and lower financing cost.

Peter Voser, PSA Group chairman, PSA International cited the group's "spirit and tenacity" throughout 2021 despite what he referred to as "supply chain shocks" and other Covid-19 related "starts and stops." 

"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," Voser said.

"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."

"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," the PSA chairman added.

Focus on promoting sustainable trade

Following the record performance in 2021, Tan Chong Meng, Group CEO, PSA International noted that the global port operator will further accelerate its push to promote sustainable trade — which includes investments in sustainable efforts and digitalization, among others.

"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," Tan Chong Meng said.

"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," he added.

With this, PSA will continue working with partners, customers, and suppliers to realize its "Internet of Logistics" vision.

"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," the Group CEO added.

PSA — with flagship operations in Singapore and Antwerp — has a global network that encompasses over 50 locations in 26 countries around the world.

The Group’s portfolio comprises more than 60 deepsea, rail and inland terminals, as well as affiliated businesses in distriparks, warehouses, and marine services.