Wednesday , 18 September 2019
Latest News

PSA acquires terminals in Canada and the US

PSA International has agreed to acquire Halterm Container Terminal in the Port of Halifax, Canada, and Penn Terminals in Pennsylvania, USA from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets.

The Singapore-based operator overcame a joint bid by Canada National Railway and CMA CGM, Logistec and others for Halfterm, the biggest container terminal in eastern Canada, according to JOC.com.

The acquisitions give PSA its second and third facilties in North America, adding to Ashcroft Terminal. the inland depot it runs 300 km east of the Port of Vancouver.

This transaction is in the process of securing regulatory approvals from the respective USA and Canadian authorities.

The Port of Halifax, which handled 550,000 teu last year, is currently executing a temporary extension of the South End Container Terminal enabling it to berth two vessels of more than 10,000 teu simultaneously by 2020.

It is hoped that the temporary pier extension will enable the port to go ahead with planning for a longer-term solution.