PIL and PSA to operate JV container terminal in Singapore

2008-1-7

Pacific International Lines (PIL) has entered into a joint venture with PSA Singapore Terminals (PSA) to manage and operate a dedicated PIL container terminal in Singapore.

The new terminal, PIL-PSA Singapore Terminal Pte Ltd (PPST), will operate three berths at Keppel Terminal and will have representatives from both companies on its board and management team, said a joint statement from the companies.

The Joint Venture Agreement for PPST was signed on January 4 in Singapore by signatories and witnesses from both companies. Among them were Teo Siong Seng, managing director and Tan Chor Kee, executive director (Commercial) of PIL, and Kuah Boon Wee, chief executive of PSA Southeast Asia and Singapore Terminals and Tan Puay Hin, chief operating officer of PSA Singapore Terminals.

The ceremony was also attended by PIL chairman YC Chang and his deputy chairman Peter Chang, as well as PSA International group chairman Fock Siew Wah and PSA International group chief executive Eddie Teh.

Said PIL's Mr Chang: "The joint venture is the result of many years of goodwill and a strong working relationship with PSA. It reinforces PIL's commitment to Singapore as a major hub port."

Said PSA's Mr Fock: "This joint venture underscores a shared vision between PIL and PSA for strategic growth. Just as PIL has grown into a global container liner offering Europe-Asia and transpacific services, PSA remains focused on expanding operations worldwide, including its hub in Singapore."

PIL owns and operates a fleet of 107 vessels with a capacity of 165,872 TEU, serving the Far East, Europe, Canada, the Indian subcontinent, the Red Sea and the Gulf; East Africa, South and West Africa; Australia, New Zealand, Pacific Islands, South American east coast, the US west coast and the Black Sea. It also has a dedicated feeder network covering a comprehensive range of ports in southeast Asia, the Bay of Bengal and the east coast of India.

PSA Singapore Terminals operates the world's largest container transhipment hub. It links shippers to an excellent network of 200 shipping lines with connections to 600 ports in 123 countries.

Source: schednet
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