Singapore's PSA International increases, consolidates Genoa port holdings

SINGAPORE's global port operator PSA International is taking majority control of Genoa's Terminal Sech, the city's second largest container terminal, adjacent to PSA Genova, the city's main terminal, reports Mumbai's STAT Trade Times.

The consolidation comes as rivals in the region - including MSC, Cosco and Maersk - debut new container facilities in what is becoming a crowded market in the north of Italy.



PSA is to take up to 40 per cent of in Sech from Gruppo Investimenti Portuali (GIP) to give it majority control, The facility has an annual capacity of 550,000 TEU while the neighbouring PSA Genova, in which ownership is split 60:40 with GIP, has a 1.6 million TEU capacity.


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