Singapore port operator PSA Corp said yesterday it has signed a new terminal service agreement with shipping giant Evergreen Marine Corp (
Evergreen's president, Arnold Wang, said the Taiwanese shipper would continue to use the island's port services for its regional business. "Evergreen vessels operating on intra-Asia routes as well as some of Evergreen's joint services will continue to call at PSA," Wang said.
"We are satisfied with PSA's comprehensive information technology, connectivity and feeder network," he said.
PSA Corp group president and chief executive Ng Chee Keong said the agreement "marks a new milestone" in the port's working relationship with Taiwan's biggest shipping firm.
"We appreciate Evergreen's commitment to continue moving significant volumes through Singapore and our overseas terminals," he said.
PSA officials said they were unable to release details of the agreement which came five months after Evergreen announced it was relocating its regional transit hub from Singapore to the Port of Tanjung Pelepas (PTP) in neighboring Malaysia.
But the shipping line said it would keep nearly 20 percent of its regional operations in Singapore because of joint service agreements it has with other carriers.
PTP has emerged as a big threat to PSA, snatching two of its biggest clients, Evergreen and Danish line Maersk, by offering substantially lower rates.
But Singapore has announced a fightback strategy including measures such as cutting handling charges, opening the way for new port operators and offering shipping lines the opportunity to run their own berths.
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