PSA International Acquires Canadian Container Terminal
Singapore's PSA International has completed the acquisition of Halterm Container Terminal in the Port of Halifax, Canada, from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets.
Halterm is the only container terminal in Eastern Canada that can serve mega container vessels. It operates three container berths covering more than a kilometer of quay length with depth of up to 16 meters. The terminal is currently undergoing further berth expansion, including the delivery of a fifth super post-Panamax quay crane, which will enable Halterm to handle two mega container vessels concurrently in 2020.
On January 12, 2019 Halterm Container Terminal received Halifax’s largest container ship to date, the 364m long, 11,400TEU CMA CGM Libra, on its Ocean Alliance South Asia-Halifax weekly service.
The Port of Halifax connects to more than 150 countries and generating $2 billion in annual economic benefit from a diverse cargo and cruise business. It accommodates large volumes of containerized cargo, roll-on roll-off cargo and project cargo of any size. It is the first inbound port and the last outbound port of call for North America’s east coast, located only about 50 nautical miles from major shipping lanes (Great Circle Route) from Europe to North America. The Port of Halifax also has excellent highway connections for Atlantic Canada’s high-value exports. Together with CN, it offers double-stack and reefer service coast to coast as well as a continuous line from Halifax to Chicago, Detroit and Indianapolis connecting the U.S. Midwest.
In Canada, PSA also operates Ashcroft Terminal, British Columbia’s largest inland port facility. Ashcroft Terminal is located approximately 300 kilometers east of the Port of Vancouver, close to the major highways of British Columbia, and offers unique rail connectivity to both Class 1 railroad lines - CN and Canadian Pacific Railway.