News / Evergreen to establish dedicated Singapore box terminal in JV with PSA

Photo: PSA International

Taiwanese carrier Evergreen is set to establish its first dedicated terminal in Singapore, signing a joint-venture agreement with terminal operator PSA.

The two parties said the terminal “is expected to commence operations by the end of 2024”, suggesting Evergreen will take a stake in one of the terminals in Singapore’s newly built Tuas area. Also that the “strategic partnership will offer long-term terminal capacity assurance to Evergreen’s fast-expanding global vessel fleet in PSA Singapore”.

“As the company’s business expands, we are always looking for like-minded partners to build high-efficiency terminals in important locations,” Evergreen chairman YI Chang (pictured above, left) said.

“This achievement not only strengthens our operations in Asia, but also marks the beginning of a deeper global partnership between us,” he added.

According to the eeSea liner database, Evergreen has 38 services calling at the world’s largest transhipment hub – 17 of which are operated in ad hoc vessel-sharing agreements on a variety of trades and call at various Singapore terminals. Fourteen are Ocean Alliance services where its partners, Cosco and CMA CGM, already operate dedicated Singapore terminals under similar partnership arrangements with PSA; and there are seven intra-Asia services which do not have nominated Singapore terminals and are expected to transfer to the new facility next year.

The first three Tuas berths began operations in late 2022, while full build-out of the project is not scheduled to be completed until 2040, when it will boast an annual handling capacity of some 65m teu and allow the port to begin closing its inner-city terminals, which are slated to be converted to housing.

However, PSA International group CEO Ong Kim Pong (above, right) suggested the joint-venture would incorporate more than just a dedicated Evergreen terminal.

He said: “Together, we see immense opportunities to embark on initiatives that will not only enhance supply chain resilience, but also re-imagine how ports and shipping lines can work in unison, as part of our Node-to-Network (N2N) strategy to ensure global trade flows as smoothly as water.”