PSA Southeast Asia has agreed to sell an up-to-20% effective stake in Eastern Sea Laem Chabang Terminal (ESCO) over two stages to JWD InfoLogistics Public Company Limited (JWD), an integrated logistics company in the region.
JWD will work with PSA to develop innovative and sustainable cargo solutions and co-create an Internet of Logistics – a logistics ecosystem of connected and inter-operable nodes underpinned by digitalisation initiatives.
Since 2003, PSA has been a shareholder in ESCO, a container terminal and supply chain operator in Thailand, which operates Terminal B3 at Laem Chabang Port (LCB) and Module B at Lat Krabang Inland Container Depot (LICD).
ESCO offers a range of logistics services covering container handling, container storage, warehousing, multi-modal transportation and customs clearance.
Ong Kim Pong, regional CEO Southeast Asia at PSA International, stated: “PSA is delighted to welcome JWD into the fold as a strategic supply chain partner at ESCO. In a new normal beset by supply chain disruptions, forging close collaborations and partnerships between key supply chain operators has become increasingly important.
“In this regard, we look forward to leveraging the combined strengths of PSA and JWD to enhance ESCO’s overall value proposition and deliver customised solutions to our customers.”
According to the partners, the combination will enhance ESCO’s strategic position as a regional holistic supply chain operator, covering multidimensional and multi-modal flows of physical (cargo), digital and financial
The transaction is expected to close before the end of the year.