News / PSA set to enter US port sector with agreement to purchase Penn Terminals

Singapore box operator PSA has confirmed reports it is set to enter the US port market and expand its presence in Canada.

It has agreed to acquire Philadelphia operator Penn Terminals and Halifax box facility Halterm from investment fund Macquarie.

“PSA International has finalised an agreement to acquire Halterm Container Terminal in the port of Halifax, Canada, and Penn Terminals in Pennsylvania, US, from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets.

“This transaction is in the process of ...