PSA Singapore (PSA) and Evergreen Marine Corporation (EMC) have established a joint venture in Singapore, aiming to enhance operational excellence and achieve greater synergies in container operations.
The joint venture terminal is expected to commence operations by the end of 2024.
[Source: PSA Singapore]
In the announcement, PSA and Evergreen said this strategic partnership will offer long-term terminal capacity assurance to EMC's expanding global vessel fleet in PSA Singapore.
PSA and EMC noted that they will continue to deepen their collaboration to enhance operational efficiency, drive digital innovation, and advance sustainability efforts.
"Trade flows are the lifeblood of the global economy, fueling markets, driving growth and connecting communities worldwide with ports and shipping lines acting as its key enablers," said Ong Kim Pong, group CEO of PSA International.
"PSA is proud to announce our latest collaboration with Evergreen Marine, a like-minded partner dedicated to advancing global trade and connectivity. Together, we see immense opportunities to embark on initiatives that will not only enhance supply chain resilience but also reimagine how ports and shipping lines can work in unison as part of our Node-to-Network (N2N) strategy so as to ensure global trade flows as smoothly as water," he added.
Nelson Quek, Regional CEO of Southeast Asia at PSA International, noted that this mutually beneficial partnership will deliver greater value and deepen the synergies between the two organisations over the long term by integrating the company's strengths and capabilities.
Y.I. Chang, chairman of EMC, said: "Environmentally friendly ships and efficient terminals are at the core of our operations. As the company's business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations."
"With the culmination of everyone's hard work comes the launch of Evergreen Marine’s first joint venture terminal with PSA. This achievement not only strengthens our operations in Asia but also marks the beginning of a deeper global partnership between us," he added.
