PSA International, the operator of the Port of Singapore, reported its profit in 2012 was S$1.29 billion (about US$1.04 billion), rising 11.5 percent from $930.52 million in 2011.
Annual revenue rose 4.3 percent from $3.47 billion in 2011 to $3.62 billion in 2012.
The PSA Group handled 60.06 million 20-foot-equivalent units in 2012, increasing 5.2 percent from the previous year.
PSA’s Singapore Terminals set a new record, moving 31.26 million TEUs, up 6.4 percent compared with 2011. PSA terminals outside of Singapore achieved total throughput of 28.80 million TEUs, representing an increase of 3.9 percent year-over-year.
“Difficult operating environments and uncertainties are likely to continue into 2013 with the lingering sovereign debt crisis in Europe, the outstanding ‘fiscal cliff’ issues in the United States and the simmering political tension between countries in various parts of the world,” said Fock Siew Wah, PSA International’s group chairman, in a written statement.
“I expect 2013 to present at least an equal dose of adrenaline-pumping developments; there will be storm clouds, rough seas and possibly silver linings too,” said Tan Chong Meng, PSA International’s group CEO.
[Updated 3/29/2013 to correct the story to show that PSA's profit in fact rose year-over-year in 2012.]