PSA International enters US market with Penn Terminals acquisition

3 September 2019 (Last Updated September 3rd, 2019 11:09)

Singapore-based PSA International has acquired the Penn Terminals in the US from Macquarie Infrastructure Partners.

PSA International enters US market with Penn Terminals acquisition
PSA International acquires Penn Terminals in the US. Credit: William Cho.

Singapore-based PSA International has acquired the Penn Terminals in the US from Macquarie Infrastructure Partners.

Located on the Delaware River, Pennsylvania, the acquired facility is a multipurpose marine terminal.

Penn Terminals is capable of handling container, super sack, steel, perishable, project, pipes, and forest products, as well as other break-bulk cargoes.

PSA International Group CEO Tan Chong Meng said: “This acquisition represents PSA’s very first foray into the US.

“We are delighted to embrace Penn as the newest member of the global PSA family and to be able to participate in its continued growth and expansion.

“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.”

As part of its capacity upgrade plan, Penn installed two new post-panamax ship-to-shore (STS) cranes last year. Now, it has a total of four STS cranes.

Providing nearly 2,850,000 million cubic feet of on-dock reefer warehouse space, Penn forms an important part of perishable cargo handling infrastructure of the Delaware River.

Approximately 40% of the fruit imports in the US pass through the Delaware River.

Macquarie Infrastructure Partners CEO Karl Kuchel said: “Since we acquired Penn Terminals in 2008, we have worked closely with the Penn management team to reliably, safely and efficiently handle customers’ cargo.

“We are proud of the growth that Penn has achieved under our ownership and look forward to seeing this continue under PSA’s ownership.”

PSA also runs the Ashcroft Terminal, the largest inland port facility in British Columbia and Halterm Container Terminal in Canada.

Formerly known as Port of Singapore Authority, the PSA manages a network of more than 50 coastal, rail and inland terminals across 18 countries.

In August, PSA International completed the takeover of Halterm Container Terminal in the Port of Halifax, Canada, from Macquarie Infrastructure Partners.