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PSA Acquires Duo of North American Terminals

PSA Acquires Duo of North American Terminals

PSA International, one of the world’s leading terminal operators, has completed a deal to acquire two North American facilities, according to reports.

An agreement is said to be finalized with Australian investment fund Macquarie for the sale of  Halterm Container Terminal, located at the Port of Halifax in Canada, and Philadelphia trade hub Penn Terminals, though the cost of this acquisition is yet to be disclosed.

Halterm is situated at the mouth of Halifax harbour on the east coast of North America, and is the closest terminal on the continent to Europe.

In addition to this, the facility is connected by on-dock rail to key locations in Canada such as Toronto and Montreal, as well as the Mid-West region of the US.

Ong Kim Pong, of PSA, outlines his vision for the next generation of terminals in a recent Port Technology technical paper

Further reports have suggested that PSA outbid a number of other companies, including leading carrier CMA CGM, for the Halterm Container Terminal.

PSA entered the Canadian market in July 2018, purchasing a 60% stake in Ashcroft Terminal (AT), Western Canada.

Penn Terminals is located on the Delaware River and also benefits from on-dock rail connections, linking the Eddystone facility to other trade hubs in the country.

PSA International commented on its acquisition of the two terminals: “PSA International has finalised an agreement to acquire Halterm Container Terminal in the Port of Halifax, Canada, and Penn Terminals in Pennsylvania, USA from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets.

“This transaction is in the process of securing regulatory approvals from the respective USA and Canadian authorities.”

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