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  • 2020 September 4 15:45

    PSA and HMM launch joint venture for container terminal operations in Singapore

    PSA Corporation Ltd (PSA) and HMM Co., Ltd (HMM) have  joined forces  to  form a joint venture in Singapore, working together for enhanced operational excellence and efficiencyin container operations. Subject to regulatory approvals, the joint venture company, HMM-PSA Singapore Terminal Pte Ltd (HPST), is scheduled to commence operations before the end of this year.

    PSA will hold  a  58  per  cent  stake  in  HPST, while HMM will  own  the  remaining  42  per  cent,  both through their respective subsidiaries. This strategic partnership will offer long-term hubbing certainty to HMM’s fast expanding global vessel fleet in PSA Singapore. Besides volume and terminal capacity  assurance,  PSA  and  HMM  will also collaborate in operational technology  developments and  innovations. The  enhanced  partnershipand staying ahead of the technology curve will ensure that PSA and HMM continue to deliver service excellence and exceed customers’ expectations.

    About PSA Singapore

    PSA Singapore operates the world’s largest container transhipment hub inSingapore, handling 36.9 million TEUs of containers in 2019. With connections to 600 ports globally, shippers have access to daily sailings to every major port in the world, operating 24/7 all year round. Beyond port   operations,   PSA   also   offers cargo   solutions   to   customers   operating   in   advanced manufacturing, cold chain, e-commerce, and energy & chemicals. This value adding service is enabled  by CALISTA™,  a  digital  platform  that  facilitates  trade  and  helps  shippers  to  better manage  their  physical  movement  of  goods,  trade  financing  and  compliance.

    About HMM

    HMM, formerly known as Hyundai Merchant Marine, is a South Korea’s national flagship carrier and one of the leading global shipping companies. HMM operates over 90 liner services with more than 100 state-of-the-art vessels in 110 countries worldwide. The company strategically collaborates with customers to develop customised supply chain solutions for dry, refrigerated and other specialised cargo.




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