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PSA & HMM Launch JV for Container Terminal Operations in Singapore

Logistic News - Published on Mon, 14 Sep 2020

Image Source: HMM PSA Singapore Terminal
PSA Corporation Ltd and HMM Co Ltd have joined forces to form a joint venture in Singapore, working together for enhanced operational excellence and efficiency in container operations. Subject to regulatory approvals, the joint venture company, HMM-PSA Singapore Terminal Pte Ltd, 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.

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Posted By : Yogender Pancholi on Mon, 14 Sep 2020
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