Psa International News

The Maritime and Port Authority of Singapore (MPA), the Port of Rotterdam Authority and 20 partners in the Green & Digital Shipping Corridor are working to reduce 20% to 30% of emissions from international shipping by 2030. This was agreed at the third Green Corridor workshop, held this week in Rotterdam.The Green & Digital Shipping Corridor was established in August 2022 to bring together partners across the supply chain to realise zero and near-zero emissions shipping on the Rotterdam-Singapore route, with the ultimate aim to reach net-zero emissions in 2050.

The Maritime and Port Authority of Singapore (MPA) and the Port of Rotterdam Authority have signed a memorandum of understanding (MoU) to establish the world’s longest Green and Digital Corridor to enable low and zero carbon shipping.Signed by Quah Ley Hoon, Chief Executive of MPA, and Allard Castelein, CEO of the Port of Rotterdam Authority at the Marina Bay Sands Convention Centre on the sidelines of the biennial World Cities Summit, the MoU will bring together stakeholders across the supply chain to realize the first sustainable vessels sailing on the route by 2027.

Singapore's PSA International and Indian container freight operators have warned the Indian government that its order to waive container storage charges during the coronavirus lockdown could lead to port congestion, letters seen by Reuters showed.India's Ministry of Shipping asked ports to allow free storage of containers as part of relief measures to ease pressure on companies hit by logistics restrictions because of India's nationwide lockdown.PSA's local unit in a letter to the government on April 24 said importers might not remove their containers from ports due to free storage…

The European Bank for Reconstruction and Development (EBRD) said that it is backing the new US$ 600 million five-year bond issued by Mersin International Port, the operator of Turkey’s largest port.The Bank has invested US$ 90million in the issuance, helping attract a host of investors, despite a challenging market environment in Turkey.The proceeds of the bond will help refinance Mersin International Port’s 2013 bond, which matures in August 2020, will support ongoing operations of the port and will provide additional stability to the company’s balance sheet while also financing general corporate needs. The continued financing of existing…

Europe’s fastest growing port, the Port of Gdansk, has outlined huge expansion plans designed to double its cargo volumes to 100m tonnes a year, during a high-level maritime and business delegation from Poland to Singapore.The delegation marks 50-years of diplomatic ties between the countries and is being organized with PSA International, the Singapore based global ports group. In May this year PSA International formally acquired DCT Gdansk, the largest container terminal in Poland, in partnership with the Polish Development Fund and the IFM Global Infrastructure Fund.The Port of Gdansk Authority vice-president for infrastructure Marcin Osowski outlined plans to build a new €2.8billion Euro Central Port as ‘the biggest maritime investment project in Europe’…

Marking its first foray into the US, Singapore-based port operator PSA International has completed the acquisition of Penn Terminals located on the Delaware River in the U.S. from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets.Penn is a privately owned multipurpose marine terminal on the Eastern Coast of the USA. Penn’s terminal, warehousing and stevedoring services have enabled it to handle its clients’ cargo since 1986.“This acquisition represents PSA’s very first foray into the USA. We are delighted to embrace Penn as the newest member of the global PSA family and to be able to participate in its continued growth and expansion.

Philippines-based international container terminal operator ICTSI has reported a massive increase in profit and a substantial increase in revenues for the first half of 2019.First half throughput rose 7% to 5.04 million teu and came on good revenues, leading to a 42% jump in net profit to $128.5 million, said a press release from the global port management company.ICTSI attributed its profit growth during the six-month period to  volume growth, tariff adjustments for certain services at multiple terminals, new contracts with shipping lines and services, as well as the continuing ramp-up of operations at new terminals.Enrique K. Razon, Jr., President and Chairman of ICTSI said: “ICTSI’s performance in the first half of 2019 has been very positive.

Singapore-based port operator PSA International has completed the acquisition of Halterm Container Terminal in the Port of Halifax, Canada, from Macquarie Infrastructure Partners."PSA International Pte Ltd concluded the purchase of the terminal from Macquarie Infrastructure Partners after formal approval by regulatory authorities, " said a PSA news release issued on Wednesday night.Halterm is the only container terminal in Eastern Canada that can serve mega container vessels. It operates three container berths covering more than a kilometer of quay length with depth of up to 16 meters.The terminal is currently undergoing further berth expansion…

Port of Sines, the first largest artificial port of Portugal, said that its Terminal XXI received, on July 21, the call of “Milan Maersk”, one of the world’s largest container ships, with capacity for 20.568 TEU (20 feet containers)."This is a sister-ship of “Madrid Maersk” that has been received several times in the recent past, is part of the largest category/class of container ships ever operated in Sines," said a statement from the Ports of Sines and the Algarve Authority.Property of the Danish giant Maersk, the ship has 399 meters in length and 58.6 meters width. After the operation in Sines, the “Milan Maersk” went to the Far East…

The provider of software-as-a-service based shipping and logistics solutions, CargoSmart has announced the official execution of the Global Shipping Business Network (GSBN) Services Agreement with shipping majors.According to a statement from the shipment management software company, CMA CGM, COSCO Shipping, COSCO Shipping Ports (CSP), Hapag-Lloyd, Hutchison Ports, OOCL, Port of Qingdao, PSA International and Shanghai International Port Group have signed up with it.As per the agreement, each signatory commits to provide resources to support preparatory work required to establish the GSBN, a not-for-profit joint venture to accelerate the digital transformation of the shipping industry.The preparatory work includes obtaining all necessary regulatory…

PSA International Ptd Ltd (PSA), the Polish Development Fund (PFR) and the IFM Global Infrastructure Fund (GIF) managed by IFM Investors have completed the transaction to jointly acquire DCT Gdańsk, the largest container terminal in Poland.DCT Gdańsk is one of the fastest growing container ports in Europe and the only terminal in the Baltic that can serve Ultra Large Container Vessels (ULCVs) with a capacity of up to 23,000 Twenty-Foot Equivalent Units (TEUs).Container volumes handled by the terminal have grown steadily over the years to reach 1.9 million TEUs in 2018.The terminal has a quay length of 1,306 meters and a maximum depth of 17 meters.

Port and terminal operator PSA International and ground handler and in-flight caterer  SATS have signed a Memorandum of Understanding (MoU) to collaborate in seamlessly connecting their sea and air transport services, with the goal of improving supply chain efficiency and boosting Singapore’s status as a multimodal transport hub.Under the MoU, PSA and SATS will work together on initiatives such as “yard-to-port” data linkages, network extensions between both companies, and enhanced track-and-trace capabilities. These are aimed at improving data transparency and ease of shipment movement within different free-trade zones.Enterprise Singapore…

Singapore-headquartered port operator PSA International is all set to take over the Halterm Container Terminal in the Port of Halifax, Canada, and multipurpose Penn Terminals in Pennsylvania, USA.Both Halterm and Penn terminals are 100% owned by Macquarie Infrastructure Partner funds, a fund managed by Macquarie Infrastructure and Real Assets (MIRA). The price was not disclosed.Halterm terminal at the Port of Halifax is the largest container terminal in Eastern Canada. Penn Terminals located in Philadelphia, USA offers steverdoring, marine terminal and cargo entry for ports in the United States.PSA, which is owned by Temasek, the sovereign wealth fund of Singapore, said it is in the process of securing regulatory approvals from U.S. and Canadian authorities.

PSA International, one of the world's largest port operators, announced that  Peter Voser, currently Deputy Chairman, is taking on the role of Group Chairman of the PSA Board.Fock Siew Wah stepped down as Group Chairman on 1 April 2019, and will assume the role of Special Advisor to PSA until his retirement on 31 July 2019.As one of PSA’s longest serving Chairmen, Fock has steered PSA with visionary leadership and strategic foresight since August 2005. With his astute guidance, the PSA Group’s global footprint has grown to its current day span of over 50 coastal, inland and rail terminals in 17 countries, and volumes have doubled to…

Singapore-based port operator PSA International, Poland’s sovereign wealth fund PFR, and IFM Global Infrastructure Fund (GIF), have agreed a deal with Australian infrastructure firm Macquarie to buy Poland’s largest container port DCT Gdansk.DCT Gdańsk is situated at the crossroads of the Baltic deep-sea trading routes and holds a strategic position as a major gateway into Poland and Central-Eastern European markets.Construction of the Port began in 2005 with the outgoing shareholders facilitating the greenfield development of the port and overseeing 13 years of transformational growth.Following a significant capital expenditure programme, the port’s capacity doubled in 2016 with the completion of a second quay.

Manila-head quartered port and terminal operator International Container Terminal Services (ICTSI) has released solid results for 2018. ICTSI’s box volumes were higher, revenues increased and the group generated higher profit.The port operator said in a stock exchange annoucement that its consolidated volume higher by six percent to 9,736,621 twenty-foot equivalent units (TEUs) (FY2017: 9,153,458 TEUs) and revenue from port operations increased 11 percent to US$1.4 billion (FY2017: US$1.2 billion).Its net income attributable to equity holders up strongly by 22 percent to US$221.5 million (FY2017: US$182.1 million).Enrique Razon, Chairman of ICTSI said: “I am pleased to report strong full year operating results for 2018.

Dubai's DP World has asked an Indian court to halt an investigation into alleged antitrust violations at the country's largest container port in Mumbai, saying the regulator was seeking excessive information, a court document seen by Reuters showed.The Competition Commission of India (CCI) last year said it suspected antitrust violations by DP World and Denmark's A.P. Moller-Maersk at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT).The CCI's investigation followed a complaint by Singapore's PSA International Pte Ltd, which alleged that Maersk and DP World businesses created barriers to hinder the growth of PSA's terminal by colluding on certain charges they levy at JNPT.In December, a Mumbai high court declined a DP World plea to quash the investigation.

The Singapore-headquartered global port operator PSA International handled 81.00 million Twenty-foot Equivalent Units (TEUs) of containers at its port projects around the world for the year ending 31 December 2018.The Group’s volume increased by 9.1% over 2017, with flagship PSA Singapore contributing 36.31 million TEUs (+8.9%) and PSA terminals outside Singapore handling 44.69 million TEUs (+9.3%), it said.PSA participates in around 40 terminals in 16 countries across Asia, Europe and the Americas with flagship operations in PSA Singapore Terminals and PSA Antwerp.Tan Chong Meng, Group CEO of PSA, said, “2018 was a dual-speed year. The slow but steady pace of global container trade growth continued, despite geo-political shifts and rising trade barriers.

The global transport company Ocean Network Express (ONE) and PSA Singapore (PSA),the flagship terminal of the global port group PSA International, will join hands to form a joint venture  company  based at Pasir  Panjang Terminal in Singapore.Subject to regulatory approvals, the joint venture terminal is scheduled to commence operations in the first half of 2019 and operate four mega container berths with a combined annual handling  capacity of 4 million TEUs, said a press release from the global container shipping company headquartered in Singapore.Pasir Panjang Terminal, designed to handle the demand dynamics of today and the future…

The number one Korean national containers carrier Hyundai Merchant Marine (HMM) and Singapore-based terminal operator PSA International have secured complete ownership of the Hyundai Pusan New-Port Terminal (Pier 4) in the Port of Busan, South Korea.The container carrier sold off its majority ownership in PSA Hyundai Pusan New-Port Terminal Co in 2016 due to liquidity trouble.According to a report in Pulse, HMM will acquire 50 percent plus one share in PSA Hyundai Pusan New-Port Terminal through a private equity fund, tentatively named as Yuanta-HPNT that it set up with Korea Ocean Business, a state authority focused to support the maritime industry.HMM…

Singapore's port operator PSA Corporation Limited (PSA) has signed a memorandum of understanding (MoU) with the Singapore University of Technology and Design (SUTD) to develop a pipeline of talent for the future mega port in Tuas.The MoU is aimed at producing data science, info-communications and engineering professionals for the Tuas port, said a joint statement by PSA and SUTD.The new Tuas Port will harness big data, and leverage automation technologies and smart systems to raise terminal productivity and service quality, it said."To build the competencies required to manage the complex ecosystems in Tuas Port, PSA will contribute port related content to SUTD curriculum, giving students exposure and advancing their knowledge in smart technologies and systems used in port operations.

China's Cosco Shipping Ports and PSA Corporation signed a memorandum of understanding (MoU) for the addition of two new berths at the Cosco-PSA Terminal in Singapore.With the launch of the two new berths, CPT will be equipped with five mega-vessel berths, increasing its annual handling capacity from 3 million TEUs of the current three berths to about 5 million TEUs.The new berths will strengthen CSP’s presence in Singapore and support the needs of Cosco Shipping group with the advent of mega-vessels and megaalliances in the shipping industry. Established in 2003, the joint venture terminal by Cosco Shipping Ports and PSA has served as a major hub for container shipping in the region.The new berths…

India's antitrust regulator has ordered a probe into alleged anti-competitive practices by Denmark's A.P. Moller-Maersk and Dubai's DP World at the terminals they operate at the country's largest container port in Mumbai, five sources familiar with the matter told Reuters.The decision by the Competition Commission of India (CCI) to investigate follows a complaint by Singapore's PSA International Pte Ltd, which alleged that Maersk and DP World created entry barriers to hinder the growth of PSA's terminal by colluding on certain charges they levy at the state-owned Jawaharlal Nehru Port Trust (JNPT).Handling 66 million tonnes of cargo in the last fiscal year to March, JNPT is critical to India's international trade.