Evergreen Marine Corporation (EMC) and PSA Singapore (PSA) signed an agreement establishing a joint venture to operate a terminal in Singapore, according to Evergreen's release.
The joint venture terminal is expected to commence operations by the end of 2024. This strategic partnership will offer long-term terminal capacity assurance to EMC's fast expanding global vessel fleet in PSA Singapore. PSA and EMC will continue to deepen their collaboration to enhance operational efficiency, drive digital innovation, and advance sustainability efforts.
Mr Ong Kim Pong, Group CEO of PSA International, said, "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. 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."
Mr Nelson Quek, Regional CEO Southeast Asia, PSA International, said, "PSA is pleased to form this strategic joint venture with EMC, building on our longstanding relationship to enhance collaboration and meet the rapidly changing needs of the maritime industry. By integrating our strengths and capabilities, this mutually beneficial partnership will deliver greater value and deepen the synergies between the two organisations over the long term."
Mr 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."