A cargo-laden ship departs from Xiamen Port. [Photo/Xiamen Port]
Xiamen International Port Co Ltd, under the Xiamen Port Holding Group, introduced PSA International Pte Ltd, a global player in container terminal operations, as a strategic investor for its affiliated enterprise Xiamen Container Terminal Group (XCTG) through an official public bidding process.
The transaction, which is expected to be finalized upon completion of the statutory review procedures, comprises eight container terminals with a combined annual designed capacity of approximately 20 million TEUs (twenty-foot equivalent unit).
The terminals of Xiamen Port are stacked with containers. [Photo/Xiamen Port]
As a flagship port enterprise in Fujian province, XCTG operates 32 dedicated container berths across Xiamen Port and related areas. With a total shoreline of about 9 kilometers and 71 gantry cranes, the terminal is capable of berthing multiple 200,000 -deadweight-ton ultra-large container vessels at the same time. Its annual handling capacity exceeds 10 million TEUs.
PSA International. [Photo/Wechat account: gangkouquan]
PSA International, based in Singapore, has previously collaborated with Xiamen Port Holding Group on the Xiamen Port Multimodal Smart Logistics Center.
The current collaboration involves releasing 30 percent of the high-quality equity of XCTG to introduce strategic investment from PSA International. Building on this partnership, PSA will further increase its investment in the Xiamen Port Multimodal Smart Logistics Center and leverage the complementary strengths of both parties to expand comprehensive cooperation across multiple areas, including port and shipping logistics, supply chains, multimodal transport operations, and overseas investment.