PortandTerminal.com, May 4, 2019
PSA International will take control of Halterm after winning the bid for the largest container terminal in eastern Canada, giving PSA an east coast presence and underscoring Halifax’s potential to feed Canadian and US markets even more cargo.
Halifax, Canada – It had been rumoured that Canada’s CN Rail and possibly one of the big shipping companies — either as a combination or separately — were interested in purchasing Halterm, a container terminal located in the south end of Halifax on Canada’s east coast. But now that idea appears to have faded with reports that PSA has swooped in with a winning bid.
JOC reported that three people close to the matter had told them that PSA beat out a joint bid by Canadian National Railway and CMA CGM, Montreal-based Logistec, and others for the terminal, currently owned by Australia’s Macquarie Infrastructure and Real Assets.
Halterm, which is faced with competing with U.S. terminals and Montreal for east coast container traffic, is facing some limitations especially since the city has grown up around it. One issue is truck traffic moving through the downtown and concerns about how the terminal will expand to meet the demands of ever-growing cargo vessels.
Macquarie Infrastructure Partners had made it known for more than a year that it wanted to sell its container terminal in Halifax and efforts to line up bidders has been happening quietly behind the scenes.
More news this week from Macquarie
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