PSA, HMM launch joint venture in Singapore

PSA and HMM have joined forces to form a joint venture in Singapore, working together for enhanced operational excellence and efficiency in container operations.  PSA operates the world’s largest container transhipment hub in Singapore.  HMM, formerly known as Hyundai Merchant Marine, is a South Korea’s national flagship carrier and one of the leading global shipping companies.

Subject to regulatory approvals, the joint venture company, HMM-PSA Singapore Terminal Pte Ltd (HPST), is scheduled to commence operations before the end of this year. PSA will hold a 58 per cent stake in HPST, while HMM will own the remaining 42 per cent, both through their respective subsidiaries. This strategic partnership will offer long-term hubbing certainty to HMM’s fast expanding global vessel fleet in PSA Singapore.

Besides volume and terminal capacity assurance, PSA and HMM will also collaborate in operational technology developments and innovations. The enhanced partnership and staying ahead of the technology curve will ensure that PSA and HMM continue to deliver service excellence and exceed customers’ expectations.

Image credit: Jordan Tan / Shutterstock.com

Like this article?

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email

Donate to Maritime Fairtrade

Your support helps sustain our extraordinary level of research and publication, enabling millions of readers to learn more about the maritime industry and make informed decisions. Thank you for your support.

visa mastercard maestro American Express apple pay stripe payment acceptance
visa mastercard maestro American Express apple pay stripe payment acceptance
This is a secure webpage.
We do not store your credit card information.

Related STORIES