PSA and Evergreen Marine Form Joint Venture for Terminal in Singapore

PSA Singapore and Evergreen Marine have joined forces to establish a joint venture in Singapore, one of the world's leading shipping hubs. The new terminal, named Evergreen-PSA Terminal, is scheduled to begin operations by the end of the year. Under this collaboration, PSA will allocate capacity from its existing berths in Singapore to accommodate Evergreen's vessels and cargo volumes. Although the specific capacity of the terminal has not been disclosed, PSA confirmed that the facility is designed to meet Evergreen's requirements, leveraging PSA’s extensive infrastructure and expertise in terminal management.

Evergreen Marine has secured a 49% stake in the joint venture for S$76.6 million (approximately $57 million). This strategic move provides Evergreen with long-term assurance of terminal capacity, a vital component for managing its expanding global fleet. The collaboration represents a significant partnership between the shipping and port industries, aligning with PSA’s Node-to-Network (N2N) strategy. This strategy aims to optimize individual nodes within PSA's global portfolio, enhancing overall network efficiency to facilitate the seamless movement of global trade. PSA International’s CEO, Ong Kim Pong, highlighted the importance of such partnerships in ensuring a smooth and efficient global supply chain, emphasizing the mutual benefits of integrated port and shipping operations.

Evergreen Marine’s chairman, Chang Yen-I, underscored the company’s dedication to sustainability and operational efficiency. He stated that environmentally friendly ships and high-efficiency terminals are core to Evergreen's business model. As the company continues to grow, it actively seeks partnerships with like-minded organizations to develop high-performance terminals in key strategic locations. The partnership with PSA reflects Evergreen’s commitment to enhancing its operational capabilities while supporting global trade efficiency.

As Taiwan's largest liner shipping company and the seventh-largest globally, Evergreen Marine manages a fleet of 222 vessels with a combined capacity exceeding 1.7 million twenty-foot equivalent units (TEU), according to Alphaliner. Evergreen is also focused on adopting sustainable shipping solutions, having commissioned around 30 methanol dual-fuel container ships from shipyards in China, South Korea, and Japan. These eco-friendly vessels are expected to be delivered between 2026 and 2027, demonstrating Evergreen's commitment to reducing its environmental footprint.

The Evergreen-PSA Terminal joint venture marks a significant milestone for both parties. For Evergreen, it guarantees access to critical terminal facilities in Singapore, ensuring operational stability for its expanding fleet. For PSA, the partnership enhances its position as a leading port operator, further cementing its role in driving global trade efficiency. Together, PSA and Evergreen are set to leverage their combined strengths to address industry challenges, advance sustainable operations, and improve supply chain resilience in an increasingly dynamic shipping landscape.