PSA joint venture to operate Chinese port

Credit: Urban Prototyping SG

PSA International (PSA) will operate a new container terminal in Qinzhou City, in Guangxi Province, China, through a joint venture with Beibu Gulf Port Group (BPG) and Pacific International Lines (PIL). The joint venture has been launched as Beibu Gulf-PSA International Container Terminal Co Ltd (BPCT).

The joint venture terminal is PSA’s first entry in Southwestern China and first strategic partnership of PSA with BPG and PIL in China.

Guangxi is one of the fastest growing regions in mainland China and accessible to Southeast Asia by land and sea.

The terminal will support regional container trade growth and serve the hinterlands of Guangxi, Sichuan, Chongqing and Hunan. It will also connect the region to key shipping routes linking China to ASEAN countries, East Africa & the Mediterranean.

Beibu Gulf Port Group (BPG) Chairman Zhou Xiao Xi expressed his confidence in the partnership, saying, “PSA is one of the world’s largest port groups, known for its management expertise, operational efficiency and proven track records. PIL is one of the largest ship-owners in Southeast Asia, with diversified operations in logistics related activities such as supply chain management, consolidation/distribution facilities, multi-modal services, and container depot/terminal operations. Tapping on the mutual expertise of all parties, the collaboration between PSA, BPG and PIL will help to spur economic growth in the region.”

A part of the “One Belt, One Road” development initiative. Beijing intends for Guangxi to function as an international corridor linking Southeast Asia to Guangxi and a strategic pillar supporting the development of southwestern and mid-southern China. It will also form an important node connecting the Silk Road Economic Belt and Maritime Silk Road routes.

The joint venture will operate and manage a total quay length of 1533 metres, a designed capacity of 3 million TEUs per annum. Long term plans call for their facility to be developed into a world-class facility servicing the mega container vessels plying global maritime trade routes today.

It will also be equipped with Super-Post Panamax quay cranes (of 23-row outreach) and provide a water-depth of 15.1 metres. Operations will commence in 4Q 2015.

Commenting on the collaboration, Tan Chong Meng, Group CEO of PSA, said, “Guangxi-Beibu Gulf’s strategic location, established transport infrastructure and extensive hinterland offer tremendous potential for our terminal to support the remarkable growth in China’s South-Western region.

Tan added, “I am confident that with the complementary strengths of the 3 shareholders (BPG, PIL and PSA), and the unwavering support from the Guangxi Government, we will be able to transform our joint venture terminal into a port of choice for the shipping lines.”

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.