PSA acquires 2nd Port of Halifax container terminal

With its acquisition of Ceres Halifax, PSA International will operate two container terminals in Nova Scotia, Canada.

PSA announced late last week that it had acquired the Fairview Cove terminal at the Port of Halifax from Nippon Yusen Kabushiki Kaisha. It already owned the Atlantic Hub terminal, which it acquired in 2019, and will operate both facilities as PSA Halifax.

Terms of the transaction were not disclosed.

“With one dedicated ILA workforce and an efficient facility comprising both terminals, PSA Halifax will have a stronger and more capable team to deliver consistent and high-quality service to ocean carriers, shippers and stakeholders across this great city,” PSA Halifax CEO Jan Van Mossevelde said. “The optimization of berth capacity in the Port of Halifax also supports the government’s sustainability objective of reducing cross-town truck traffic. We will work to ensure that the port city of Halifax continues to provide creative supply chain solutions for Canadian exports and importers, as well as reliability into U.S. markets.” 

Owned by the Singaporean government, PSA operates more than 60 deepsea, rail and inland terminals in 26 countries. PSA also has expanded to offer customers end-to-end logistics services. In early December, it announced it was acquiring Philadelphia-based freight management company BDP International.

In Canada, PSA also operates the Ashcroft Terminal, an inland port facility about 185 miles from the Port of Vancouver.

According to Friday’s announcement, PSA’s investment in megavessel handling at the Atlantic Hub on the south end of Halifax over the past two years has “future-proofed its long-term competitiveness, allowing it to handle the largest vessels ever to call at Canada’s ports to date.” The Fairview Cove terminal, located on the city’s north end, will complement its operations for vessels with a capacity up to 8,000 twenty-foot equivalent units. 

The joint operations will allow the Fairview Cove terminal to build on its railhead, roll-on/roll-off capabilities and location “to drive greater connectivity for shippers,” PSA said. “At the terminal, additional westbound service options made available to importers from North Europe and California dovetail with weekly South Asia vessels.” 

Thomas J. Hayes, chair of the Halifax Port Authority’s board of directors, said that the “new operating model will allow PSA Halifax to capture new efficiencies, which will ultimately help drive more cargo through our international gateway, creating opportunities for Nova Scotia manufacturers, importers and exporters, and more cargo-related jobs across the supply chain.” 

The announcement, which was jointly issued by PSA and the Halifax Port Authority, concluded that “with fast and efficient CN rail service, backed by a unique and growing network of coastal feeder opportunities, PSA Halifax’s Atlantic Hub and Fairview Cove will offer superior logistical support and environmentally beneficial options for a broad range of shippers.” 

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Source: freightwaves - PSA acquires 2nd Port of Halifax container terminal
Editor: Kim Link Wills