SIMIC

PSA announced last week that it acquired Ceres Halifax, which runs Fairview Cove, from Japanese shipping company Nippon Yusen Kabushiki Kaisha, reports Singapore's The Business Times.

With the completion of the deal, PSA now operates the 2 container terminals at the Halifax port, including its existing Atlantic Hub terminal at the south end of the city.

Atlantic Hub was the group's first coastal terminal investment in Canada. New investment in mega-vessel handling capability over the past 2 years have future-proofed its long-term competitiveness, allowing it to handle the largest vessels to call at Canada's ports to date, PSA said in a press statement.

Fairview Cove will complement Atlantic Hub's existing operations for vessels of up to 8,000 TEU capacity as part of its integrated offerings. Both terminals are now jointly branded under PSA Halifax.

PSA group chief executive officer (CEO) Tan Chong Meng said: "This will allow the port to expand its service offerings and transform it from a coastal to a global hub port - enhancing competition, presenting significant efficiencies and strengthening Halifax's position as a port of choice."

He added: "To this end, we look forward to greater collaboration with the Halifax Port Authority, CN Rail and other partners, as we seek to extend Halifax's hinterland to new markets."

Jan Van Mossevelde, CEO of PSA Halifax, said the optimisation of berth capacity in the port "also supports the government's sustainability objective of reducing cross-town truck traffic".

Halifax Port Authority president and CEO Allan Gray noted: "Our operating model provides cost advantages to those looking for a reliable and efficient way to move cargo inland now and in the future."

He added that with a new long-term lease agreement in place with PSA Halifax, as well as more streamlined operations from the pilot station to the terminals, the authority is confident that it can work with partners to ensure the cost remains competitive.