PSA Singapore (PSA) and Ocean Network Express (ONE) will join hands to form a joint venture company based at Pasir Panjang Terminal in Singapore.
Subject to regulatory approvals, the joint venture terminal is scheduled to commence operations in the first half of 2019 and operate four mega container berths with a combined annual handling capacity of 4 million TEUs.
The terminal will deliver reliable and efficient terminal services to ONE, securing best-in-class services for its fleet with this long term strategic partnership.
Pasir Panjang Terminal, designed to handle the demand dynamics of today and the future, enables ONE to leverage its industry-leading port infrastructure and cutting-edge technologies.
As the main hub in Southeast Asia for shipping lines and major alliances, Pasir Panjang Terminal has the capacity and scale of operations to meet ONE’s needs with high quality services and enhanced productivity.
Ong Kim Pong, Regional 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.
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, said, “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 cooperation with PSA.
“This will improve our service reliability and benefit our customers through better service levels.”
Various conflicting issues surrounding the merger of the world’s two biggest shipbuilders.