Japan’s Mitsui OSK Lines (MOL) and PSA Singapore announced the formation of a joint venture to establish a Ro-Ro terminal in Singapore. The terminal is currently subject to regulatory approval and is expected to commence operations in the first half of the year.
MOL stated the location provides multiple regional connections and services for vehicles transiting from their source to the market. It added that the partnership is intended to enhance terminal service reliability and operational efficiency for its Ro-Ro service and to secure long-term terminal capacity to support growing automobile transport demand.
Nelson Quek, Regional CEO Southeast Asia of PSA International, stated that the partnership integrates the automobile terminal into its global network, providing connectivity across the automotive logistics value chain.
Jotaro Tamura, Senior Managing Executive Officer of MOL said, “This investment is an important part of MOL's regional strategy to expand beyond shipping business, alongside our marine transportation services, and to expand our automotive business.”