PSA wins two North American east coast concessions

PSA wins two North American east coast concessions

Singapore’s PSA International, one of the world’s largest terminal operators, has won its first concessions on the eastern seaboard of North America. The company has finalised an agreement to acquire Halterm Container Terminal in the Port of Halifax, Canada, and Penn Terminals in Pennsylvania, US from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets. The transaction is in the process of securing regulatory approvals from the respective USA and Canadian authorities.

PSA beat out stiff competition from Canadian National Railway and CMA CGM for the Halifax terminal.

Last year PSA took a 60% stake in inland port, Ashcroft Terminal in British Columbia.

The sale comes as Macquarie shifts its investment to west coast ports. Last week it was revealed a consortium led by Macquarie Infrastructure Partners had won a $1.78bn bid to take over OOCL’s Long Beach container terminal.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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