PSA buys Halifax terminal

PSA International Pte Ltd has bought Ceres Halifax Inc. from Nippon Yusen Kabushiki Kaisha.

PSA Halifax will now operate two container terminals in Halifax, Atlantic Hub (formerly Ceres) and Fairview Cove, jointly branded as PSA Halifax.

The Atlantic Hub terminal is located at the south end of the city of Halifax and new investment in megavessel handling capability over the past two years allow it to handle the largest vessels ever to call at Canada’s ports to date. The terminal has in recent years welcomed a new service from Europe and announced Canada’s first direct connection to and from India. In May 2021, it received Canada and East Coast North America’s largest container ship, handling its first 16,000-TEU capacity vessel from Asia.

Fairview Cove terminal, at the north end of the city, will complement Atlantic Hub’s existing operations for vessels of up to 8,000-TEU capacity.

“PSA Halifax’s Atlantic Hub was our Group’s first coastal terminal investment in Canada and we are pleased to be given the opportunity to also operate the Fairview Cove terminal,” said Tan Chong Meng, group CEO of PSA. “This will allow the port to expand its service offerings and transform it from a coastal to a global hub port.”

According to  Thomas Hayes, chairman of the port authority’s board, PSA’s greater stake in the port is expected to push more cargo through the international gateway, and create business opportunities for Nova Scotia manufacturers, importers and exporters.

“This is a significant milestone for all parties involved,” he said.