PSA and Evergreen Singapore container terminal jvPSA and Evergreen Singapore container terminal jv

A statement from PSA and Evergreen Marine said the terminal would start operations by the end of the year and provide an assurance of long term capacity for Evergreen’s expanding fleet calling in Singapore.

Nelson Quek, Regional CEO for PSA International Southeast Asia said, “By integrating our strengths and capabilities, this mutually beneficial partnership will deliver greater value and deepen the synergies between the two organisations over the long term.”

Y.I. Chang, Chairman of Evergreen Marine, said, “Environmentally friendly ships and efficient terminals are at the core of our operations. As the company's business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations.”

Earlier this year the world’s largest transhipment port suffered congestion issues as lines reshuffled there networks due Red Sea diversions via the Cape of Good Hope accompanied by a surge in cargo volumes.

PSA International CEO Ong Kim Pong told the TOC Asia conference on Tuesday that it’s Pasir Panjang Terminal (PPT) had exceeded capacity this year handling 36 million teu in a facility with a capacity of 34 – 35 million teu annually.

PSA is developing the world’s largest fully automated at Tuas Port which currently comprises 10 berths and will have an annual capacity of 65 million teu when completed in the 2040’s.

PSA Singapore has joint venture terminals with six other lines – CMA CGM, Cosco Shipping, HMM, MSC, Ocean Network Express, and Pacific International Lines.