Terminal operator PSA Singapore and Ocean Network Express (ONE) inaugurated their joint venture terminal dubbed the Magenta Singapore Terminal in the Lion City earlier this week.
The four berth, 4m teu annual capacity facility at PSA’s Pasir Panjang Terminal in Singapore was announced in December last year. The joint venture terminal has been named the Magenta Singapore Terminal after ONE’s distinctive branding, the inauguration featured the 14,000 teu container vessel ONE Stork in the same colour scheme.
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.