PSA Singapore has now secured long-term commitments from the world’s top three container alliances with news yesterday that Japan’s Ocean Network Express (ONE) has formed a joint venture terminal company based at Pasir Panjang Terminal.
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 4m teu.
Jeremy Nixon, CEO of Singapore-based 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 co-operation with PSA. This will improve our service reliability and benefit our customers through better service levels.”
Commenting on the news, Andy Lane from CTI Consultancy in Singapore told Splash: “This is a smart move by PSA as now they have secured JVs and long term commitments with 2M viaMSC, Ocean Alliance via CMA CGM and COSCO and now THE Alliance with ONE.”