PSA International has completed the acquisition of Penn Terminals located on the Delaware River, USA, from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets.
Penn can handle container, perishable, project, super sack, steel, pipes, forest products and other break-bulk cargoes. The Terminal undergone in late 2018 a significant capacity upgrade with the addition of two new post-panamax Ship-to-Shore cranes bringing its total STS count to four.
Penn is also a key component of the perishable cargo handling infrastructure of the Delaware River with approximately 80,400 cubic meters of on-dock reefer warehouse space. About 40% of the US fruit imports come in via the Delaware River, which tallies to about 4 million tons per year.
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Tan Chong Meng, Group CEO at PSA, said, “This acquisition represents PSA’s very first foray into the USA. We are delighted to embrace Penn as the newest member of the global PSA family and to be able to participate in its continued growth and expansion.
“We are committed to partnering the state of Pennsylvania, customers, staff and the local community, as well as key stakeholders to augment Penn’s capabilities and connectivity in order to better serve the needs of shippers and receivers in the greater US Mid-Atlantic region and beyond.
Karl Kuchel, CEO of Macquarie Infrastructure Partners, said, “Since we acquired Penn Terminals in 2008, we have worked closely with the Penn management team to reliably, safely and efficiently handle customers’ cargo.
“We are proud of the growth that Penn has achieved under our ownership and look forward to seeing this continue under PSA’s ownership.
In North America, PSA also operates Ashcroft Terminal, British Columbia’s largest inland port facility and Halterm Container Terminal, which is the only facility in Eastern Canada that can serve mega container vessel.