SINGAPORE-HEADQUARTERD and Japanese-owned
Ocean Network Express (ONE) has formed a joint venture with PSA
in Singapore for a four million TEU capacity container terminal
to be based at Pasir Panjang Terminal in the Lion City.
The four mega-container ship berth
terminal at Pasir Panjang Terminal is scheduled to begin operations in the
first half of next year subject to regulatory approvals. The terminal will have
an annual capacity of 4 million TEU, the two companies said in a statement.
Jeremy Nixon CEO of ONE said: "Through this joint venture in Singapore, ONE
will be enabled to further enhance its terminal and vessel planning operations
in an even closer co-operation with PSA. This will improve our service
reliability and benefit our customers through better service levels."
Regional CEO Southeast Asia for PSA International, Ong
Kim Pong, said: "Recently,
PSA has developed many enhanced products including data analytics tools to
boost port efficiency and initiatives for cargo solutions to address market
needs. 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 is the latest major line to form
a joint venture terminal company with PSA in Singapore. Last month Cosco
Shipping Ports and PSA joint venture Cosco-PSA Terminal announced
it would be increasing annual capacity from 3 million to 5 million TEU.
Source : HKSG.
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