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HMM and terminal major PSA form joint venture

Container line HMM now joins forces with Singapore's terminal operator PSA International to establish a joint venture. According to the shipping line, the partnership will ensure berths at arrival and provide "more reliable service."

Photo: HMM

South Korean HMM and Singapore's major terminal operator PSA International join forces to establish a company that will ensure the container line's ships a "long-term hubbing certainty" when arriving at the terminals.

The joint venture will be named HPST (HMM-PSA Singapore Terminal Pte Ltd) and is planned to launch before the turn of the year. PSA will be majority owner of the joint company with a 58 percent stake, while the South Korean shipping line will own the remaining 42 percent.

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