Singapore-based port operator PSA International has completed the acquisition of Penn Terminals, located on the Delaware River in the US, from Macquarie Infrastructure Partners.
According to PSA, Penn Terminals is one of the best equipped, privately owned multipurpose marine terminals on the Eastern Coast of the US. The deal marks PSA’s first acquisition in the US.
Penn has recently undergone a significant capacity upgrade with the addition of two new post-panamax ship-to-shore (STS) cranes in late 2018.
“We are committed to partnering the state of Pennsylvania, customers, staff and the local community, as well as key stakeholders to augment Penn’s capabilities and connectivity in order to better serve the needs of shippers and receivers in the greater US Mid-Atlantic region and beyond,” said Tan Chong Meng, Group CEO of PSA International.
PSA International has been agressively expanding its global footprint this year, having acquired Thailand’s Thai Prosperity Terminal and Halterm Container Terminal in the Port of Halifax in Canada. A consortium led by PSA also acquired full equity interest of DCT Gdańsk, the largest container terminal in Poland, from Macquarie in March.