Record-breaking year marks new milestone for Singapore’s maritime industry and global trade.
Singapore’s largest terminal operator, PSA International, announced a historic milestone as it surpassed 40 million TEUs (twenty-foot equivalent units) handled in 2024, reflecting strong volume growth despite global shipping disruptions. The record reaffirms Singapore’s status as a world-leading transshipment hub.
PSA International, Singapore’s largest port operator, achieved a significant milestone in 2024 by handling over 40 million TEUs. This growth comes amid global supply chain disruptions and increased transshipment demands. Tuas Port, Singapore’s state-of-the-art facility, played a key role in the achievement and continues to expand.
PSA Singapore handled over 40 million TEUs, surpassing the previous record of 38.8 million TEUs in 2023. This marks a 3.1% increase and highlights the port’s ability to manage high volumes effectively.
The development of Tuas Port remains central to Singapore’s maritime ambitions. Currently, 10 out of 66 planned berths are operational, with an additional berth launching by the end of 2024. When fully completed in the 2040s, Tuas will handle up to 65 million TEUs annually.
PSA is investing $647.5 million in a new advanced warehousing facility at Tuas, set to open in 2027. Equipped with robotics and cold storage capabilities, the hub will enhance Singapore’s capacity to manage specialized cargo such as chemicals and pharmaceuticals.
Singapore remains one of the busiest ports globally, second only to Shanghai, which set a new record by handling over 50 million TEUs in 2024. This achievement underscores Singapore’s strategic role in global trade and logistics.
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The ongoing transition from older terminals such as Tanjong Pagar, Keppel, and Brani to Tuas will further streamline operations. Pasir Panjang Terminal, which reopened berths to manage disruptions, will operate until the 2040s.
The milestone reinforces the country’s critical role in global trade, ensuring economic growth and job creation. For international stakeholders, Singapore’s advancements in port technology and infrastructure offer unparalleled efficiency and reliability.
Singapore’s PSA Terminal achieved a record 40 million TEUs in 2024, driven by Tuas Port expansion, advanced technology, and seamless logistics. The achievement cements Singapore’s status as a global maritime hub amid increasing transshipment demands.
Sources: The Maritime Executive, The Straits Times (2024)
Keywords: Singapore Port Record, 40 Million TEUs, 2024 Shipping Milestone
