PSA International Pte Ltd (PSA) has through its fully-owned subsidiary, PSA Cargo Solutions Vietnam Investments Pte Ltd, acquired a strategic minority stake in SOTRANS Group (STG) from Indo-Trans Logistics (ITL).
PSA was formerly the Port of Singapore Authority.
In 1996, PSA’s regulatory functions were transferred to the Maritime and Port Authority of Singapore. PSA was commercially operated container terminals and related businesses in the Port of Singapore. It is a global leader in the ports and terminals business, partnering with port authorities, business agencies and MNCs to develop, manage and operate world class port projects at every corner of the globe.
PSA’s operating entities are organised into five business regions – Southeast Asia, Middle East South Asia, Northeast Asia, Europe and Mediterranean, Americas.
PSA Singapore handles about a fifth of the world’s transhipped containers.
The collaboration between PSA and STG enables PSA to expand its Node-to-Network strategy in Southeast Asia
, leveraging STG and ITL's strong brand, extensive logistics ecosystem, and longstanding experience in Vietnam. Simultaneously, STG can benefit from PSA’s global network of deepsea, affiliated businesses in distriparks, comprehensive suite of digital solutions as well as global expertise in end-to-end supply chain services to maximise the growth potential of Vietnam's port and maritime industry and support STG in becoming a National Champion by better connecting Vietnamese customers to the world.
Overall, this strategic partnership allows both PSA and STG to leverage their common strengths and enhance their market position, delivering more tangible value to customers' flexible needs with robust and sustainable Port Logistics supply chain solutions.
STG is delighted and proud to collaborate with PSA, a leading global port operator with an extensive global network and strong market potential.
(SOTRANS Group News)