PSA International Pte Ltd (PSA) saw relatively steady cargo volumes in 2022 as countries slowly emerged from the pandemic but were further impacted by geopolitical tension in Europe and worsening global economic conditions.

PSA handled container volumes of 90.9 million Twenty-foot Equivalent Units (TEUs) last year at its port projects around the world which were 0.7% lower than its record-breaking 2021 performance.

Its flagship PSA Singapore contributed 37.0 million TEUs (-0.7%), and PSA terminals outside Singapore handled 53.9 million TEUs (-0.7%).

"The world experienced another challenging year in 2022, and although most countries were emerging from the global pandemic, many continued to suffer from the negative aftershocks, which were compounded by the war in Ukraine, higher energy prices, global inflation and supply chain disruptions," said Tan Chong Meng, Group CEO of PSA.

"Transitions to new realities"

The PSA Group chief executive noted that despite the challenges, PSA management, staff, and unions adapted and delivered to its customers across PSA's ports, cargo solutions, marine and digital businesses

"Going into 2023, the world is experiencing deep transitions towards new realities, and while these times of change can be uneasy, PSA stands steady against the headwinds that may come our way as we continue to build on our core business of ports and – coupled with the acquisition of BDP International last year – widen our focus in enabling more agile, resilient and sustainable supply chains," Tan Chong Meng said.

"We will partner closely alongside our customers, partners and stakeholders to future-proof our journey ahead, and continue in our mission to be a supply chain orchestrator, realise an Internet of Logistics and bring about more sustainable global trade," he added.