PSA Singapore (PSA) and Hainan Harbour & Shipping International Port Co, Ltd - which operates Yangpu International Container Terminal (YPICT) - has signed a Memorandum of Understanding (MOU) to strengthen port-to-port connectivity and develop comprehensive logistics solutions that support the growing regional cargo flow and enhance supply chain resilience.
Hainan Harbour & Shipping International Port Co, Ltd, a subsidiary of COSCO Shipping Group, is the largest container terminal operator in Yangpu Port.
Leveraging the combined expertise of PSA and YPICT, the partnership aims to foster closer operational collaboration between Singapore and Yangpu Port in Hainan, enhancing cargo movement and connectivity between South China and the Southeast Asia region, according to a statement.
Under the MOU, both partners will explore opportunities to synergize, and enhance trade connectivity and service excellence through joint operational initiatives. The partnership will also aim to support the logistics and supply chain development of Hainan Island in the long term.
Nelson Quek, regional CEO Southeast Asia of PSA International, said: "By combining PSA's extensive global network with YPICT's pivotal location in South China, we are well-positioned to unlock new opportunities for trade flows between South China and the greater economic regions in Southeast Asia."
Wang Ran, chairman of Hainan Harbor & Shipping Holding Co, Ltd, said: "Through close collaboration with PSA, we aim to further enhance trade flows between China and Southeast Asia regions, strengthening both partners' port connectivity and operational excellence. This partnership will drive the development of Yangpu Port and align with the trade economic growth objectives of Hainan free trade port."
https://www.shippingazette.com/news?news_id=9250600000703
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