PSA’s Singapore terminals saw a slight decline, but its global operations grew in 2020.
PSA International Pte Ltd (PSA) handled 86.6M TEU in 2020 (+ 1.7%). PSA Singapore contributed 36.6M TEU (-0.9%). PSA terminals outside Singapore handled 50M TEU (+ 3.7%). PSA International has a presence in more than 50 terminals in 26 countries. Its biggest operation outside Singapore is PSA Antwerp.
On the financial side PSA Group revenue increased by 2.5% on higher throughput and business acquisitions during the year. Profit from operations was lower by 4.2%, and overall net profit for the year decreased by 6.2% from the previous year due to lower other income and an increase in other operating expenses. The Group’s gross debt to equity ratio stood at 0.58 times at the close of 2020.
“Despite the supply chain shocks in the first half of 2020, the PSA team, together with our partners, rallied to meet our customer needs around the world,” said Mr Peter Voser, Group Chairman, PSA International. “This enabled us to finish the year on a strong footing with a credible performance, while still keeping safety at the forefront.
“The importance of a seamless and resilient global supply chain has been clearly underscored by the events of 2020,” added Mr Tan Chong Meng, Group CEO, PSA International. “Thanks to the dedication and resolve of our management, staff and unions, and in partnership with our customers, authorities and industry associates, PSA kept supply chains operational across our global network, while protecting ourselves, our partners and stakeholders.
“As a key global player in the transport and logistics industry, PSA is in a unique position to innovate, influence and effect change across the supply chain for greater reliability, and also for a healthier and greener world. We are united in our drive to ensure long-term sustainability for our businesses, our partners, and the communities where we operate. To this end, we have been purposefully building on our digital and cargo solutions capabilities to benefit cargo owners and customers, investing in people, equipment and technology for smarter resource efficiencies, and championing cross-industry partnerships to spur collective action towards a more sustainable world.”