ONE, PSA to Form JV Container Terminal in Singapore
- Business & Finance
Ocean Network Express (ONE) and PSA Singapore (PSA) have unveiled their plans 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.
“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,” Jeremy Nixon, Chief Executive Officer, ONE, said.
ONE explained that, 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 the company’s needs with high-quality services and enhanced productivity.