Singapore’s PSA Terminal Surpasses 40 Million TEU Milestone in 2024

In what is being called a “significant milestone,” Singapore’s largest terminal operator PSA Singapore reported that as of December 24, it surpassed 40 million TEU handled at its terminal in 2024. Representing significant volume growth, it came as the port struggled to handle disruptions to the flow of traffic related to the diversions away from the Red Sea for containerships and an influx in transshipment volumes.

“In what has been an eventful year for the industry, this achievement cements PSA Singapore’s position as the world’s transshipment hub of choice,” said Nelson Quek, Regional CEO Southeast Asia for PSA International.

Challenges Faced by PSA Singapore

PSA and the Maritime & Port Authority of Singapore at mid-year highlighted the significant disruption to schedules as vessels were diverted to sailing around South Africa and the Cape of Good Hope on trips to and from Europe. They said it was resulting in vessel bunching at the port, ships arriving days behind schedule, and an increase in transshipment volumes as ships skipped Asian ports to regain lost time on their schedules. They also reported increased box handling as ships were also using time on berth to shift containers to reflect changes in their schedules.

Record-Breaking Volumes

Despite all the extra handling, PSA Singapore reports it surpassed 40 million TEU. This is up from 38.8 million TEU PSA handled in 2023, which was also the old record. Overall, in 2023, Singapore handled just over 39 million TEU.

The volumes in Singapore continue to position the port as a rival to the large Chinese ports, which are the only others that regularly handle over 40 million TEU. Shanghai, however, remains the world’s busiest port, reporting that it has surpassed 50 million TEU in 2024.

Future Expansion and Development

Singapore is in the midst of a large expansion of its operations as it transitions from the older terminal to the massive new Tuas facility which when completed will have a capacity for more than 65 million TEU. Currently, 10 berths have opened at Tuas with number 11 expected to start operations in the coming days. When completed, the terminal will have 66 container berths.

PSA reports it started construction on a new warehouse at Tuas investing US$475 million for a facility with advanced robotics and automation. Due to open in 2027, it will handle dangerous goods and cold storage ranging from chemicals to pharmaceuticals.

Singapore’s development timeline calls for the existing operations of Tanjong Pagar, Keppel, and Brani Terminals, to move to Tuas by 2027. PSA’s existing Pasir Panjang Terminal, which reopened berths in 2024 to accommodate the disruptions in schedules and reduce the vessel backlog, will continue to operate into the 2040s before transitioning to Tuas. Currently, PSA reports at Tuas and Pasir Panjang it operates 55 berths with a capacity to handle 43.9 million TEU annually. The company also operates the first dedicated car terminal in Singapore, which opened in 2009, at Pasir Panjang.