PSA International has made its first foray into the US port market with the completion of its acquisition of Penn Terminals, a multipurpose facility located on the Delaware River on the US East Coast.
Penn, which was purchased from Macquarie Infrastructure Partners, offers handling of container, perishable, project, super sack, steel, pipes, forest products and other break-bulk cargoes.
Tan Chong Meng, group CEO of PSA International, said: “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.
The facility has recently undergone a significant capacity upgrade with the addition of two new post-Panamax ship-to-shore (STS) cranes in late 2018 bringing its total STS count to four.
Penn is also a key component of the perishable cargo handling infrastructure of the Delaware River with approximately 2,850,000 cu ft (80,400 cu m) of on-dock reefer warehouse space.
It is estimated that close to 40% of the US fruit imports come in via the Delaware River, which tallies to about 4m tonnes per year.
The Delaware River’s key advantage is its existing cold chain ecosystem, fulfilling importers’ need for inspection, sorting, and quality checking of fresh fruit produce, prior to transport to their final destinations.
Within an hour’s drive from the Delaware River port complex, there are around 40 other refrigerated warehouses/logistics operators which deal in chilled and frozen cargoes.
This existing cold chain infrastructure is not easily replicated, either in scope or level of efficiency, noted a statement from PSA.
Karl Kuchel, CEO of Macquarie Infrastructure Partners, stated: “Since we acquired Penn Terminals in 2008, we have worked closely with the Penn management team to reliably, safely and efficiently handle customers’ cargo.”
In North America, PSA also operates Ashcroft Terminal, British Columbia’s largest inland port facility and Halterm Container Terminal, which is the only facility in Eastern Canada that can serve mega container vessels.