PSA to Acquire Halterm, Penn Terminals

Maritime Activity Reports, Inc.

May 7, 2019

Pic: PSA International

Pic: PSA International

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. Regulatory approvals have not yet been obtained.

Macquarie has been selling down its port assets recently, including DCT Gdansk in Poland, a deal that also involved the PSA.

PSA beat out several bids for Halterm, including a joint bid by Canadian National Railway Co. and a partner.

Maritime Reporter Magazine Cover Jul 2019 - Cruise Vessel Design & Outfit

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News