PSA Singapore container re-handling up 8% in H1 2024

News

PSA Singapore reports a 7% increase in container volumes and an 8% rise in mega vessel container re-handling in the first half of 2024 compared to last year.

PSA Singapore claims the average wait time at the Singapore port in recent weeks has been reduced to two days or less.

In a media statement published on 10 July, PSA says it has “significantly ramped up its capabilities to mitigate the impact of global supply chain disruptions, including reinforcing its frontline capacity, commissioning new berths at Tuas Port, and reactivating berths and yard space at Keppel Terminal.”

Since the start of 2024, PSA has faced strong berth demand as well as off-schedule vessel arrivals, resulting in high concentrations of vessels arriving during certain days of the week, causing a significant increase in waiting times.

“Larger call sizes have required vessels to stay longer, with lengthier transhipment container dwell. This has arisen from a confluence of various factors, including the Red Sea situation (which has indirectly reduced overall global shipping capacity), upstream and downstream port congestion, and port omissions by shipping lines to recover their schedules, giving rise to substantial changes in vessel arrival patterns and call sizes,” PSA adds.

Singapore’s port has seen about 90% of container vessels arriving off-schedule, compared to an average of about 77% in 2023. In addition, vessel port stays at PSA have also increased by 22% compared to the same period last year.

PSA explains this is due to more containers being handled per vessel call due to higher demand and container re-handling, where some containers are unloaded from the vessel to make way for other containers in consideration of port of discharge, weight and vessel stability. Unloaded containers are then loaded back to the vessel again.

Container re-handlings on mega vessels berthed at PSA have increased by 8% in the first half of 2024, compared to the previous year.

“This is due to high vessel utilisation caused by the Red Sea situation that results in shipping lines leveraging more on PSA to optimise the stowage of containers on board their vessels and to ensure safety at sea, especially now when most mega vessels are taking the longer route around the Cape of Good Hope. This in turn has led to extended vessel port stays and will affect the berthing time for incoming vessels, even while PSA maintains its productivity,” says PSA.

According to the company’s data, PSA moved 7% more container volumes in the first half of 2024, compared to the same period last year.

In addition to the reactivation of some berths and yard space at Keppel Terminal, PSA’s Tuas Port currently operates nine berths and will add two more by the end of this year.

“PSA plans to further expand Tuas Port and continue hiring frontline workers across all terminals. In 2024 alone, PSA hired nearly 1,500 frontline workers,” the company concludes in a statement.

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