PSA Acquires Duo of North American Terminals

Source Port Technology

via PT

PSA International, one of the world’s leading terminal operators, has completed a deal to acquire two North American facilities, according to reports.

An agreement is said to be finalized with Australian investment fund Macquarie for the sale of  Halterm Container Terminal, located at the Port of Halifax in Canada, and Philadelphia trade hub Penn Terminals, though the cost of this acquisition is yet to be disclosed.

Halterm is situated at the mouth of Halifax harbour on the east coast of North America, and is the closest terminal on the continent to Europe.

In addition to this, the facility is connected by on-dock rail to key locations in Canada such as Toronto and Montreal, as well as the Mid-West region of the US.

Further reports have suggested that PSA outbid a number of other companies, including leading carrier CMA CGM, for the Halterm Container Terminal.

PSA entered the Canadian market in July 2018, purchasing a 60% stake in Ashcroft Terminal (AT), Western Canada.

Penn Terminals is located on the Delaware River and also benefits from on-dock rail connections, linking the Eddystone facility to other trade hubs in the country.

PTI has approached PSA International for comment on its acquisition of the two terminals.

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