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Singapore's PSA drums up business for the future
DESPITE current tricky trading condition, Singapore's top terminal opertion PSA continues to build business and tech patnerships.
The Lion City's port handled a total of 28.14 million TEU in the first eleven months of the year, down one per cent compared to the corresponding period in 2015.
Despite the lower throughout, the port has made significant progress in a number of areas that could potentially lift its volumes in 2017.
The Cosco-PSA Terminal will move from its current two-berth terminal at PSA's Pasir Panjang Terminal Phase 1 to three new mega berths at the terminal's Phase 3 and Phase 4. The new berths are expected to start operations in 2017.
In a similar development, CMA CGM and PSA formed a joint venture company in June, named CMA CGM-PSA Lion Terminal that will operate and use four mega container berths at Pasir Panjang Terminal Phases 3 and 4 in a bid to turn Singapore into the French shipping group's hub port for Asia.
Twenty-two new automated guided vehicles (AGVs) that PSA bought for its container terminals in June are expected to be in use in the second quarter of 2017. The new units will join the existing eight hybrid-powered AGVs operating at Pasir Panjang Terminal and will raise the total fleet of AGVs to 30 units.
PSA is in the midst of building an automated port in Tuas to the west of Singapore, while dredging in Tuas is underway for the new port that could look like a futuristic multi-storey carpark when completed in 2030, reported Splash 24/7.
PSA is also determined to be at the forefront of tech developments linked to the ports and transportation industries. In May, for instance, it launched PSA unboXed, a corporate venture capital arm that invests in start-up businesses involved in IT and data analytics and automation for handling containers and other cargo.
PSA unboXed will initially have a fund of SGD20 million (US$14.6 million) for its incubator programme, which will invest in technology such as IoT (Internet of Things), cloud storage, data analytics, AI (artificial intelligence) and optimisation, plus engineering solutions that utilise robotics and automation.
Selected start-ups will receive up to SGD50,000 in seed funding initially, and will be provided with facilities at PSA's Pasir Panjang Terminal Building 3 in Singapore.
The Lion City's port handled a total of 28.14 million TEU in the first eleven months of the year, down one per cent compared to the corresponding period in 2015.
Despite the lower throughout, the port has made significant progress in a number of areas that could potentially lift its volumes in 2017.
The Cosco-PSA Terminal will move from its current two-berth terminal at PSA's Pasir Panjang Terminal Phase 1 to three new mega berths at the terminal's Phase 3 and Phase 4. The new berths are expected to start operations in 2017.
In a similar development, CMA CGM and PSA formed a joint venture company in June, named CMA CGM-PSA Lion Terminal that will operate and use four mega container berths at Pasir Panjang Terminal Phases 3 and 4 in a bid to turn Singapore into the French shipping group's hub port for Asia.
Twenty-two new automated guided vehicles (AGVs) that PSA bought for its container terminals in June are expected to be in use in the second quarter of 2017. The new units will join the existing eight hybrid-powered AGVs operating at Pasir Panjang Terminal and will raise the total fleet of AGVs to 30 units.
PSA is in the midst of building an automated port in Tuas to the west of Singapore, while dredging in Tuas is underway for the new port that could look like a futuristic multi-storey carpark when completed in 2030, reported Splash 24/7.
PSA is also determined to be at the forefront of tech developments linked to the ports and transportation industries. In May, for instance, it launched PSA unboXed, a corporate venture capital arm that invests in start-up businesses involved in IT and data analytics and automation for handling containers and other cargo.
PSA unboXed will initially have a fund of SGD20 million (US$14.6 million) for its incubator programme, which will invest in technology such as IoT (Internet of Things), cloud storage, data analytics, AI (artificial intelligence) and optimisation, plus engineering solutions that utilise robotics and automation.
Selected start-ups will receive up to SGD50,000 in seed funding initially, and will be provided with facilities at PSA's Pasir Panjang Terminal Building 3 in Singapore.
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