PSA, “K” Line, Yang Ming, Hanjin start Antwerp terminal joint venture

PSA, “K” Line, Yang Ming, Hanjin start Antwerp terminal joint venture

PSA, “K” Line, Yang Ming, Hanjin start Antwerp terminal joint venture

   Singapore state-controlled port group PSA and three ocean carriers from the CKYH alliance, “K” Line, Yang Ming and Hanjin Shipping, have established a joint venture company to operate multiple berths at PSA’s recently opened Deurganck terminal in the port of Antwerp.

   The new company, Antwerp International Terminal NV, will start operations at berths on the port's left bank in January.

   The carriers said the port of Antwerp will become its European hub for services within the Asia/Europe trade. “The launch of our new 8,000-TEU-plus container vessels means bigger volumes and fewer port calls. We will centralize our volumes in a few mega hubs,” said G.S. Choi, Hanjin’s senior vice president.

   PSA said it plans to invest more than 500 million euros ($620 million) over the next five years to double its annual terminal capacity to more than 10 million TEUs at the right and left banks of the River Schelde in Antwerp.

   On July 6, the port opened the first facilities in the new Deurganck tidal dock. When fully completed the terminal will feature 5,190 meters of 30-meter-high quay wall and an annual capacity of 5.5 million TEUs. In 2004, the port of Antwerp handled 6 million TEUs.