PSA acquires container terminal in the Port of Halifax

Two massive container ships are loaded at the Fairview Container Terminal.  All identifying logos/text removed.

PSA International Pte Ltd (PSA) and Halifax Port Authority have announced PSA’s acquisition of Ceres Halifax Inc. from Nippon Yusen Kabushiki Kaisha.

PSA Halifax will now operate two terminals at the port, Atlantic Hub and Fairview Cove.

The first terminal is located at the south end of the city and represents the longest and deeper container berth in Eastern Canada. The fleet at the Atlantic Hub has been recently enhanced with new cranes to improve megavessel handling capability. The hub terminal serves North America’s east coast.

The Fairview Cove terminal at the north end of the city will supplement existing operations for vessels bringing the number up to 8,000 TEU total capacity.

Tan Chong Meng, Group CEO of PSA, said: “PSA Halifax’s Atlantic Hub was our Group’s first coastal terminal investment in Canada and we are pleased to be given the opportunity to also operate the Fairview Cove terminal. This will allow the port to expand its service offerings and transform it from a coastal to a global hub port – enhancing competition, presenting significant efficiencies and strengthening Halifax’s position as a port of choice.”

Jan Van Mossevelde, CEO of PSA Halifax, added: “The optimisation of berth capacity in the Port of Halifax also supports the Government’s sustainability objective of reducing cross-town truck traffic. We will work to ensure that the Port City of Halifax continues to provide creative supply chain solutions for Canadian exporters and importers, as well as reliability into US markets.”

The joint operations will allow the Fairview Cove terminal to build on its extensive railhead, RoRo (roll-on roll-off) capabilities and location to drive greater connectivity for shippers.

According to the statement, PSA Halifax’s Atlantic Hub and Fairview Cove will offer superior logistical support and environmentally-beneficial options for a broad range of shippers.

Last month, PSA posted its operational and financial results for 2021. The company reported revenues of $4.6 billion, an increase of 11.7 per cent over the $4.1 billion in 2020. This was primarily driven by higher container volumes and storage revenues.

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