Pacific International Lines (PIL) has entered into a joint venture with PSA Singapore Terminals to jointly manage and operate a dedicated container terminal for the shipping line in Singapore.
The new joint venture terminal, PIL-PSA Singapore Terminal Pte Ltd (PPST), will operate three container berths at Keppel Terminal and will have representatives from both companies on its board and management team.
The JV agreement was signed in Singapore last week.
YC Chang, executive chairman of PIL, said the joint venture was the result of a strong working relationship with PSA. "It also further reinforces PIL's commitment to Singapore as a major hub port," he said.
PSA International's group chairman Fock Siew Wah said the JV underscored a shared vision between the partners.
"Just as PIL has grown into a global container liner offering Europe-Asia and transpacific services, PSA remains likewise focused on expanding its operations worldwide, including its hub in Singapore," he said.
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