PSA Singapore, terminal operator, along with Ocean Network Express (ONE) announced the inauguration of their joint terminal dubbed the Magenta Singapore Terminal in the Lion City earlier this week.
The joint venture terminal has been named the Magenta Singapore Terminal after ONE’s distinctive branding.
The fourth berth, which has a 4 million TEU capacity, annually, at PSA’s Pasir Panjang Terminal in Singapore was announced in December last year.
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Among those present at the inauguration were ONE ceo Jeremy Nixon, Maritime & Port Authority of Singapore (MPA) chief executive Quah Ley Hoon, and PSA group ceo Tan Chong Meng.The latest joint venture terminal by PSA represents an important step in locking in the Japanese container line joint venture ONE to using Singapore as its transhipment hub in Southeast Asia.
Other lines with joint venture terminals in Singapore include Pacific International Lines, MSC and CMA CGM and in November last year Cosco Shipping Ports and PSA joint venture Cosco-PSA Terminal announced it would be increasing annual capacity from 3m to 5m teu.
