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PSA completes acquisition of Penn Terminals, marking its first foray into the US

PortandTerminal.com, Sept. 2, 2019

Singapore’s PSA International (PSA) has completed the acquisition of multipurpose terminal Penn Terminals (Penn) on the eastern coast. The deal marks PSA’s first foray into the US

PSA International has completed the acquisition of Penn Terminals located on the Delaware River in the U.S. from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets. The transaction has been approved by the relevant regulatory authorities.

Penn is considered to be a well-equipped terminal with warehousing and stevedoring services. Penn is known industry-wide for its reliability and efficiency in handling container, perishable, project, super sack, steel, pipes, forest products and other break-bulk cargoes.

“This acquisition represents PSA’s very first foray into the USA. 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,” said Tan Chong Meng, Group CEO of PSA International.

PSA’s global holding as of 2016. Since then they have added Halterm in Halifax, Canada and Penn Terminals in the United States

Penn 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 cubic feet (80,400 cubic meters) 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 4 million tonnes per year.

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.

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