PSA stamps control in Genoa

PSA stamps control in Genoa

PSA International is bolstering is position in Genoa, firming a deal to take majority control of Terminal Sech, the city’s second largest box terminal, which sits alongside PSA Genova, the city’s top terminal.

PSA has come to a deal with partner Gruppo Investimenti Portuali (GIP) to up its 40% stake in Sech to give it majority control of the facility which has a current annual capacity of 550,000 teu. Neighbouring PSA Genova, which is split 60:40 with GIP, has a 1.6m teu annual capacity.

The consolidation move by the Singaporean port major comes as rivals in the region – including MSC, Cosco and Maersk – debut new boxport facilities in what is becoming a crowded market in the north of Italy.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

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