SINGAPORE: PSA Singapore handled over 40 million Twenty-foot Equivalent Units (TEUs) on Tuesday (Dec 24), surpassing its 2023 container volume.

This figure breaks the company's previous record set in 2023 of 38.8 million TEUs.

TEU is a unit of measurement used to determine cargo capacity for container ships and terminals.

In its news release on Friday, PSA said the milestone highlights "the company’s continued growth and operational excellence".

PSA added its achievement is driven by a "steadfast commitment to ensuring resilient, efficient, and sustainable cargo flow". 

"This underlines PSA’s crucial role as a key enabler of global trade and connectivity, as well as a trusted partner to its customers and stakeholders," the company said.

According to the World Shipping Council, Shanghai is the biggest container port in the world.

The Port of Shanghai handled 49.16 million TEUs in 2023, while PSA ranked second in the table.

PSA International group CEO Ong Kim Pong said that the company will "strive to strengthen the synergies between our port operations and port-adjacent services".

"We remain dedicated to integrating advanced technology with our operational expertise, while working to reinforce our role as a reliable global port operator and a trusted partner for cargo stakeholders," said Mr Ong.

Nelson Quek, PSA International's regional CEO for Southeast Asia, added that the company will continue to work closely with public and private sector partners to deliver new capacity and capabilities that strengthen "Singapore’s standing as a critical node in global trade".   He also extended his appreciation to PSA's staff and unions, "whose tenacity and teamwork made this accomplishment possible".