Bharat Mumbai Container Terminals Private Limited (BMCT), a wholly-owned subsidiary of PSA Bharat Investments Pte Ltd (which is a subsidiary of PSA International), signed the concession with Jawaharlal Nehru Port Trust (JNPT) on 6 May 2014 to develop the JN Port’s fourth container terminal on a design, build, operate, finance and transfer basis in Mumbai for a period of 30 years. Located at India’s largest and premier container gateway port, BMCT will have berths with a depth of 16.5 metres, the deepest in JN Port. BMCT will be equipped with the latest technology and equipment to serve important industrial and manufacturing centres and cities in India’s largest hinterland. BMCT is well-connected by major highways and rail networks to key markets in India, a fast-growing economy. “Bharat Mumbai Container Terminals Pvt Ltd is PSA International's latest port project in India. PSA will work along with Jawaharlal Nehru Port Trust to develop this very important terminal in India to cater to the increasing demand for container handling capacity, and facilitate maritime trade in India,” said Mr Tan Chong Meng, Group CEO, PSA International. When BMCT is fully completed, it will have a quay length of 2,000 metres with a design capacity of 4.8 million TEUs per annum
International Container Terminal Services, Inc. ("ICTSI") and PSA International Pte. Ltd. ("PSA"), through their subsidiaries, have signed an agreement to jointly develop, construct and operate the container port terminal and ancillary facilities located in the Peninsula of Aguadulce, Buenaventura, Valle del Cauca, Colombia. The agreement involves PSA´s investment in Sociedad Puerto Industrial Aguadulce S.A
PSA Marine completed the acquisition of the marine business of Sembcorp Logistics Ltd. for $112.97 million. "The strategic acquisition complements PSA Marine's core business and extends its geographical reach to key overseas markets in Hong Kong, Southeast Asia, Middle East and Africa," said PSA in a statement. The addition of salvage tugs and semi-submersible barges to its fleet would also widen PSA Marine's range of marine services to include international emergency response and ocean towage
Dubai Ports World raised its offer for the British port operation Peninsular and oriental steam Navigation Co. to almost $7 billion, beating an offer from Singapore's PSA International Ltd. The offer sent P&O's shares up almost 5 percent on January 27. P&O and DP World, which is owned by Dubai's government, had agreed to the $6.9 billion cash bid. The offer, which amounts to $9.26 per share, topped a $6.3 billion offer from PSA
Tianjin Port Group (TPG) China, and Singapore's PSA International (PSA) have signed a "strategic cooperation framework agreement" to develop Tianjin Port So far, PSA has invested in two of the port's container terminals, namely Tianjin Port Pacific International Container Terminal (TPCT) and Tianjin Port Alliance International Container Terminal (TACT). These two facilities have a total of 10 berths that can handle the biggest containerships
PT. Pelabuhan Indonesia II (Persero) (“IPC”), Mitsui & Co, Ltd. (“Mitsui”), Nippon Yusen Kabushiki Kaisha (“NYK Line”) and PSA International Pte Ltd (“PSA”) have agreed to jointly participate in the construction and operation of a new container terminal at Tanjung Priok Port, Jakarta, Indonesia. This new terminal will be developed and operated by the newly established project company PT New Priok Container Terminal One
Southwest Marine Inc., San Diego, Calif., is being awarded a $7,667,628 cost-plus-award-fee contract for accomplishment of the post shakedown availability (PSA) for the USS Mustin (DDG 89). This contract is for services and material for total DDG 89 PSA effort, including options for DDG 91 and three other San Diego homeported DDGs yet to be determined. Specific efforts include engineering and management in support of the PSA, labor and material to perform specified PSA work
Asian economies are leading the recovery of international container trade volumes, but strong growth across the region could see pre-recession pressure on freight infrastructure re-emerge, a senior executive of container shipping line APL told a conference in Ho Chi Minh City on May 20. “Intra-Asia is already the world’s single largest container trade,” Jason Wong, Vice President of APL’s Intra Asia trade, told the 8th ASEAN Ports & Shipping Conference
Gibbs & Cox won a Professional Services Agreement (PSA) with BAE Systems Ship Repair. The new PSA will allow any of the BAE Systems shipyards to contract directly with Gibbs & Cox for engineering services in support of their repair, fabrication and new construction work. BAE Systems Ship Repair is a leading provider of non-nuclear ship repair, modernization, conversion, overhaul, fabrication and new construction for commercial and government customers
Bigger container ships are resulting in much greater peaks in container terminal activity, which together with the ever larger combined volumes of bigger alliances, demands fewer, larger terminals in each port. Terminal operators are reacting by consolidating terminal layouts and ownership – and by working more closely together – but what are the consequences for their customers? Drewry Maritime Research discuss in this extract from their latest 'Container Insight Weekly'.
International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the first half of 2015, posting revenue from port operations of US$552.1million, an increase of eight percent over the US$510
Rising global container port demand and ever larger vessels are driving terminal operators to make significant investments in additional capacity, according to the Global Container Terminal Operators Annual Report 2015 published by global shipping consultancy Drewry.
The Maritime and Port Authority of Singapore (MPA) held a half-day emergency preparedness exercise, codenamed 'FEREX 2015' August 21. The annual ferry exercise (FEREX) aims to test the readiness of various agencies to respond to ferry mishaps in the Port of Singapore.
The Shipping Ministry, Government of India has named Anil Udhavrao Diggikar, a Maharashtra cadre Indian Administrative Service (IAS) officer of the 1990 batch, as the new chairman of the state-owned Jawaharlal Nehru Port Trust (JNPT).
Kalmar, part of Cargotec, has successfully completed the project to supply the onboard navigation application for four automated guided vehicles (AGVs) to PSA Singapore. The initiative is part of PSA's strategic investment in automation technologies to enhance its premier status as
Saudi Global Ports LLC (SGP), a joint-venture company formed between the Public Investment Fund (PIF) of the Kingdom of Saudi Arabia and PSA International (PSA) started its commercial operations this month, at the second container terminal in the King Abdul Aziz Port in Dammam
Singapore-based port operator PSA Panama International Terminal (PSA Panama) has started a USD 400 million expansion of its container terminal located on the west bank of the Panama Canal Pacific. It has started on the expansion after being granted approval by the National Assembly
Saudi Global Ports (SGP), a joint-venture company formed between the Public Investment Fund of the Kingdom of Saudi Arabia and PSA International (PSA) has started its commercial operations this month, PSA said. This began at the second container terminal in the King Abdul Aziz Port in Dammam
International Container Terminal Services, Inc. (ICTSI) today reported unaudited consolidated financial results for the quarter ended March 31, 2015 posting revenue from port operations of US$296.1 million, an increase of 19 percent over the US$248
16 deserving students were awarded with the Howe Yoon Chong PSA Scholarship. Mr Fock Siew Wah, Group Chairman of PSA International (PSA), presented the award certificates to the students at a ceremony held in PSA Building in Singapore today. The bond-free scholarships will pay for tuition and
Shipping is the premise for international trade and has always been an international industry. A central driver for the global shift has been the operational and technological development of the shipping industry, which has lowered transportation costs dramatically
PSA International (PSA) established itself as the first and only Global Terminal Operator in the Guangxi-Beibu Gulf region by signing a Joint Venture Agreement with Beibu Gulf Port Group (BPG) and Pacific International Lines (PIL) to operate a new container terminal in Qinzhou City
Singapore opened the newest addition to its container port on Tuesday, aiming to handle more of the increasing number of mega-ships plying the oceans. A few of the planned 15 berths in Phases 3 and 4 of the Pasir Panjang Terminal are operational. The rest of the S$3.5 billion ($2
The $3.5 billion Phase 3 and 4 expansion of Pasir Panjang Terminal was officially opened by Prime Minister Lee Hsien Loong on Tuesday (June 23). The expansion will add 15 berths with a 6 km quay length to the container terminal's existing 52 berths
PSA Peugeot Citroen is in advanced talks over an Iranian carmaking venture with historic partner Iran Khodro and expects rapid progress following the diplomatic breakthrough lifting sanctions against the country, the French company said. The deal struck between Iran and western powers