The Singapore-based global container terminal operator PSA International said Friday it made a net profit of $1.1 billion in 2013, a 13.4-percent improvement over 2012.
PSA’s revenue rose 3.3 percent, year-over-year, to $3.7 billion on volume that increased by 2.9 percent to 61.8 million TEUs. When adjusted for port portfolio changes, PSA’s like-for-like volume growth over 2012 was 4.6 percent.
The company’s flagship facility in Singapore saw volume rise 3.1 percent to 32.2 million TEUs. Despite revenue rising 3.3 percent, PSA said costs rose 4.4 percent in 2013.
“The container shipping and port industry has been rocked by game-changing developments in recent years, which precipitated the shake-up we have seen in 2013,” said PSA Group Chief Executive Officer Tan Chong Meng. “Against this backdrop, PSA as a global terminal operator, continues to serve close to 10 percent of the world’s market share in container handling.
“Over the next few years, we will continue to invest in new terminals and upgrade older ones, plowing back a high proportion of our annual earnings to serve our customers’ future requirements and growth. There is no foretelling the future with certainty, but we can prepare ourselves by buttressing the range and depth of capabilities we have to offer our customers and partners.”