PSA, ONE launching joint venture container terminal

Operations at Pasir Panjang Terminal in Singapore are expected to get under way in the first half of 2019.

PSA, ONE launching joint venture container terminal

Operations at Pasir Panjang Terminal in Singapore are expected to get under way in the first half of 2019.

PSA, ONE launching joint venture container terminal

Operations at Pasir Panjang Terminal in Singapore are expected to get under way in the first half of 2019.

 
   PSA Singapore (PSA) and Ocean Network Express (ONE) have agreed to form a joint venture company based at Pasir Panjang Terminal in Singapore.
   Subject to regulatory approvals, the joint venture terminal is scheduled to begin operations in the first half of 2019 and operate four mega container berths with a combined annual handling capacity of 4 million TEUs.
   Ong Kim Pong, PSA International regional CEO for Southeast Asia, called the collaboration “a win-win and mutually beneficial partnership.”
   “Recently, PSA has developed many enhanced products, including data analytics tools to boost port efficiency and initiatives for cargo solutions to address market needs,” he said. “We look forward to working alongside with ONE to grow its value, strengthen its position as a major global player and at the same time enhance the status of the Port of Singapore as a premier global container and cargo orchestration hub.”
   ONE CEO Jeremy Nixon said the agreement cements “a long-lasting relationship into a long-term strategic partnership.”

   “Through this joint venture in Singapore, ONE will be enabled to further enhance its terminal and vessel planning operations in an even closer cooperation with PSA. This will improve our service reliability and benefit our customers through better service levels,” Nixon said.
This year was one for the record books, with manufacturers’ average optimism for 2018 hitting an all-time high.
CMA CGM has begun purchasing slots on the Evergreen Line/Emirates/CMA CGM/KMTC/COSCO - AGI. The AGI also has added the vessel Beijing Bridge, which increased the vessel count from five to six and increased the total capacity by 4,378 TEUs or 21 percent.
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