Pacific International Lines signs Joint Venture Agreement
Pacific International Lines (PIL) signed a Joint Venture Agreement with PSA International (PSA) and Beibu Gulf Port Group (BPG) at Qinzhou City (Guangxi Province, China), to establish a new container terminal - Beibu Gulf-PSA International Container Terminal Co., Ltd (BPCT). The alliance will unified the management of berth 3, 4, 5, 6, 7 and 8 under one operator, the company said in its press release.
The commencement of operations is expected in 4Q 2015 and the partnership will further strengthen shipping, maritime, terminal and logistics related areas between Singapore and Guangxi, forming an important entry connecting the Silk Road Economic Belt and the 21st-Century Maritime Silk Road.
PSA Singapore is the world leading global port groups with its headquarter situated in Singapore and own by Temasek Holdings.
Pacific International Lines (PIL) is the largest privately-held container shipping firm in Southeast Asia. Mr S.S Teo is the Managing Director for PIL and Chairman of Singapore Business Federation. PIL is also the world third largest shipowner in the number of vessels owned and has 24 offices in China including container manufacturing, depots, terminals and logistics services. The world 18th top containership operator offers container liner and multi-purposes services at over 500 locations in 100 countries with more than 17,000 employees worldwide and run regular multi-purpose service from Far East to West/South/East Africa by using owned and chartered fleet. The vast services offer in China encompass the "One Belt, One Road" strategic region and have trading network in Shanghai, Ningbo Zhoushan, Quanzhou, Guangxi, Zhuhai, Hong Kong and Macau. These are the biggest city in the "21st- Century Maritime Silk Road".
