On Monday, September 2, Singapore-based port operator PSA International completed the acquisition of Penn Terminals from Macquarie Infrastructure Partners, following formal approval by the relevant regulatory authorities.
According to PSA’s statement, Penn’s location makes it the best equipped, privately owned marine terminals on the Eastern Coast of the US.
Another advantage is that Penn Terminals has experienced a capacity upgrade as it had two new post-panamax Ship-to-Shore (STS) cranes added in late 2018, and now has four STS.
Tan Chong Meng, Group CEO, PSA International stated
This acquisition represents PSA’s very first foray into the U.S. 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.
Also, approximately 40% of the US fruit imports come in via the Delaware River, which tallies to about 4 million tons annually.
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The terminal 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.
Recently, PSA International discussed its ambitions on exploring its 5G port opportunities.
