PSA Southeast Asia has reached an agreement with JWD InfoLogistics Public Company Limited (JWD) to sell an up-to-20% effective stake in Eastern Sea Laem Chabang Terminal (ESCO) over two stages. Since 2003, PSA has been a shareholder of ESCO, a container terminal and supply chain operator in Thailand. ESCO operates Terminal B3 at Laem Chabang Port (LCB) and Module B at Lat Krabang Inland Container Depot (LICD), offering a wide range of logistics services covering container handling, container storage, warehousing, multi-modal transportation and customs clearance.
JWD, an integrated logistics company with a presence in Thailand and Southeast Asia, will work with PSA to develop innovative and sustainable cargo solutions and co-create an Internet of Logistics – a logistics ecosystem of connected and inter-operable nodes underpinned by digitalisation initiatives.
The combination of PSA, a leading global port group and supply chain orchestrator, and JWD, a reputable and recognised expert in logistics and supply chain, will elevate ESCO’s unique strategic position as a regional holistic supply chain operator, covering multi-dimensional and multi-modal flows of physical (cargo), digital and financial.
Mr Ong Kim Pong, Regional CEO Southeast Asia, PSA International, said, “PSA is delighted to welcome JWD into the fold as a strategic supply chain partner at ESCO. In a new normal beset by supply chain disruptions, forging close collaborations and partnerships between key supply chain operators has become increasingly important. In this regard, we look forward to leveraging the combined strengths of PSA and JWD to enhance ESCO’s overall value proposition and deliver customised solutions to our customers”.
The transaction is expected to close before the end of the year.
PSA Southeast Asia is a subsidiary of PSA International, a leading port group and trusted partner to cargo stakeholders. With flagship operations in Singapore and Antwerp, PSA’s global network encompasses over 50 locations in 26 countries around the world. The Group’s portfolio comprises more than 60 deepsea, rail and inland terminals, as well as affiliated businesses in distriparks, warehouses and marine services. Drawing on the deep expertise and experience from a diverse global team, PSA actively collaborates with its customers and partners to deliver world-class port services alongside, develop innovative cargo solutions and co-create an Internet of Logistics. As the partner of choice in the global supply chain, PSA is “The World’s Port of Call”. Visit us at www.globalpsa.com.
Source: PSA Internatonal