Singapore-headquartered and Japanese-owned ONE has formed a joint venture with PSA Singapore for a four mega-container ship berth terminal at Pasir Panjang Terminal. The joint venture terminal is scheduled to begin operations in the first half of next year subject to regulatory approvals. The terminal will have an annual capacity of four million TEU.
Jeremy Nixon ceo of ONE said, “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.”
Ong Kim Pong, regional CEO Southeast Asia for PSA International said, “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.”
ONE, a joint venture between the container lines of NYK, MOL and K Line, is the latest major line to form a joint venture terminal company with PSA in Singapore. Last month Cosco Shipping Ports and PSA joint venture Cosco-PSA Terminal announced it would be increasing annual capacity from three million to five million TEU.
Other lines with joint venture terminals in Singapore include Pacific International Lines, MSC and CMA CGM.