PSA Singapore and Ocean Network Express (ONE) have announced they will join a joint venture company based at the Pasir Panjang Terminal in Singapore, according to a joint statement.
Subject to regulatory approvals, the joint venture is scheduled to commence operations in the first half of 2019 and operate four mega container berths with a combined annual capacity of 4 million TEUs.
Both companies have said the terminal will deliver reliable and efficient terminal services to ONE, securing best-in-class services for its fleet.
They also say that Pasir Panjang Terminal, as the main hub in Southeast Asia for container shipping, will easily meet ONE’s technological and productivity needs.
Speaking about the joint venture, Ong Kim Pong, CEO Southeast Asia, PSA International, said: “We are honoured by Ocean Network Express’ (ONE) confidence in PSA and are pleased to embark on a win-win and mutually beneficial partnership with them.
How is the supply chain functioning in a quickly changing world? Find out with a Port Technology technical paper
“Recently, PSA has developed many enhanced products including data analytics tools to boost port efficiency and initiatives for cargo solutions to address market needs.
“We look forward to working alongside with ONE to grow its value, strengthen its position as a major global player, and at the same time, enhance the status of the Port of Singapore as a premier global container and cargo orchestration hub.”
Jeremy Nixon, CEO, ONE, also commented: “We feel privileged to be able to cement a long-lasting relationship into a long term strategic partnership with PSA, one of the top terminal players in the world.
“Through this joint venture in Singapore, ONE will be enabled to further enhance its terminal and vessel planning operations in an even closer co-operation with PSA.
“This will improve our service reliability and benefit our customers through better service levels.”