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Singapore still shines
16 Jul 2008
PSA has continued to expand in the past year, but its flagship Singapore operation still seems to be the place to watch.
PSA Singapore Terminals handled a record 27.1m teu last year, a 13% increase on 2006. It is understood that in the first four months of this year (2008), Singapore Port (PSA and Jurong) grew slightly faster than Shanghai – 12.1% compared with 11.4%. “This should make for an exciting finish at the end of the year as to which port is the world’s largest container port,” says one observer.
At the start of this year, PSA entered a joint venture with Pacific International Lines to manage and operate a dedicated three-berth container terminal for PIL in Singapore.
PSA has also formed a joint venture with International Port Holdings and Roman Group to develop Argentina’s second largest container terminal and complementary logistics and warehousing businesses.
One of rival Hutchison Port Holdings’ latest agreements has been the lease of the new container berths 11 and 12 from the Port of Brisbane.
HPH has formed a new subsidiary, Brisbane Container Terminals, to operate the new facility and will be investing more than A$200m (US$191.9m) in the terminal.
Construction has begun; berth 11 is due to be operational by 2012, with berth 12 following two years later.
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