World's No 2 liner MSC will jointly run terminals in SG
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PSA and Swiss shipper ink joint venture to run container terminal
SINGAPORE : PSA Corporation has entered into a joint venture with Mediterranean Shipping Company to jointly manage and operate a terminal for MSC in Singapore.
It is only the second time the port has allowed such outside investment in its Singapore facilities.
The first such historic joint venture in the highly competitive regional shipping scene was with Cosco Pacific in 2003, in a sign of PSA's willingness to make strategic partnerships for commercial reasons.
MSC is the world's second largest shipping company and PSA already has a joint venture with the Swiss company in its Antwerp operations.
A statement from the port operator said the MSC-PSA Asia Terminal will occupy three berths at the Pasir Panjang Terminal.
They will have an annual capacity of more than two million standard containers, or TEUs.
To date, PSA has a total of 41 berths, with the development of new berths at Pasir Panjang Terminal well ahead of schedule.
Another 11 new berths will be added by 2011, boosting PSA's annual handling capacity to 31 million TEUs. - CNA /ct -
Guess this adds more pressure to Malaysian ports that are trying to complete with us
Already Northport Malaysia that operates some 48% of Port Klang's volume have been facing negative growth since 2002 as shippers moves cargo to PSA Terminal due to better svs given
In fact, with large ships like the MSC Pamela that can carry 9200 containers, it would mean better for hub ports as such ships only calls hub ports unlike many port calling rotation for ships that carry 4800 TEUs or so... Rest is served by feeders