PSA International PTE LTD and its subsidiaries results for 2024

2024 was a year of measured recovery due to the confluence of geopolitical and trade tensions, ongoing conflicts, volatile interest rates, fiscal and inflationary pressures, and extreme climate changes which exacerbated ongoing global supply chain disruptions, impacting key markets and businesses. These challenges highlighted the need to advance our strategy of investing in infrastructure, innovation and partnerships to ramp up our resilience and capabilities as a leading global port operator and supply chain solutions provider.

PSA focused on working closely with industry stakeholders last year and set a new record annual container handling volume of 100.2 million TEUs across our global port terminals, surpassing 100 million TEUs for the first time in our history. For the year ending 31 December 2024, the Group recorded an overall revenue of SGD 7.7 billion and a net profit of SGD 1.1 billion.

This accomplishment is testament to the fortitude and perseverance of many. I wish to express my profound gratitude to our Board of Directors for their strategic insights, and to our management, staff and unions, for their tenacity in driving PSA’s progress. My heartfelt thanks also extend to our customers, partners and stakeholders, for their continued trust and collaboration.

The horizons ahead are shaped by geopolitical developments, rapid technological advances, and the urgency of climate action. To stay the course, PSA must embrace a transformative mindset to co-create more interconnected and sustainable global supply chains. We will endeavour to continue working closely with our stakeholders across the Group’s portfolio of ports, supply chain solutions, marine, and digital businesses to help shape a more sustainable world.”

~ Mr Peter Voser, Group Chairman, PSA International

“PSA has exemplified exceptional resilience in 2024 amidst uncertainty in the global economy. Despite geopolitical volatility, evolving trade policies, and rapid technological advances that reshaped businesses, the Group crossed a historic milestone by handling 100.2 million TEUs, reflecting a 5.6% increase from the previous year.

Against the backdrop of global supply chain challenges, our Node to Network (N2N) strategy has made significant headway in enhancing terminal performance, transforming isolated nodes into coordinated networks and ensuring the continuity of global trade flows in today’s fast-changing landscape.

These remarkable achievements would not have been possible without the unwavering dedication and tireless efforts of our management, unions, and staff. Their collective contributions and passion have been instrumental in driving our success and growth. Additionally, I extend my deepest appreciation to our valued customers and partners, whose steadfast support and confidence in us have been the cornerstone of our journey.

Building on the firm foundations laid by our pioneers, PSA will continue to be aligned in our purpose, leveraging our fabric of ports network to promote efficient trade flows. We will act with perseverance for sustained progress in developing PSA into an organization of excellence. And we will achieve with pride, working alongside our customers, partners, and stakeholders to shape the future of trade.”

~ Mr Ong Kim Pong, Group CEO, PSA International

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