PSA International has made its second acquisition in North America in less than a month with the purchase of Penn Terminals in Pennsylvania.
The terminal, which is located on the Delaware River, has been acquired from Macquarie Infrastructure Partners. Financial terms were not disclosed.
PSA described Penn as “one of the best equipped, privately owned multipurpose marine terminals” on the Eastern Coast of the USA.
“This acquisition represents PSA’s very first foray into the US,” said Tan Chong Meng, group chief executive, PSA International.
“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.”
Penn is said to have recently undergone a “significant capacity upgrade” with the addition of two new post- panamax cranes in late 2018; bringing its total STS count to four.
Penn is also described as a “key component of the perishable cargo handling infrastructure of the Delaware River” with around 2.85m cubic feet of on-dock reefer warehouse space.
It is estimated that close to 40% of the US fruit imports come in via the Delaware River, which tallies to about 4m tons per year.
Last month PSA International has expanded its footprint in Canada with the acquisition of the Halterm Container Terminal in the Port of Halifax.
It was also acquired from Macquarie Infrastructure Partners following formal approval by the relevant regulatory authorities.
Halterm is described as “the only container terminal in Eastern Canada” that can serve mega container vessels with three container berths with water depths of up to 16 metres.
In Canada, PSA also operates Ashcroft Terminal, British Columbia’s largest inland port facility, which is located about 300km east of the Port of Vancouver.
