Singapore’s PSA International completes acquisition of US Penn Terminals

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The Port of Singapore Authority (PSA International) has completed the acquisition of the multipurpose terminal Penn Terminals (Penn) on the eastern coast of the US from Macquarie Infrastructure Partners, a fund managed by Macquarie Infrastructure and Real Assets.

The facility is located on the Delaware River, Pennsylvania and is used for warehousing and stevedoring services. It is known for its reliability in handling container, perishable, project, super sack, steel, pipes, forest products, and other break-bulk cargoes.

Penn Terminals has been upgraded recently with the addition of two new post-panamax ship-to-shore (STS) cranes in late 2018, bringing its total STS count to four. It handles  infrastructure of the Delaware River with approximately 2,850,000 cubic feet (80,400 cubic meters) of on-dock reefer warehouse space. It is estimated that close to 40% of the US fruit imports come in via the Delaware River, which tallies to about 4 million tonnes per year.

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