SAIGON PORT AND PSA MARINE FORM TOWAGE JOINT VENTURE - 06/03/2009
Saigon Port Company Limited and PSA Marine Vietnam Pte. Ltd., a wholly-owned subsidiary of PSA Marine (Pte) Ltd, today signed a joint venture contract to form SP-PSAM Tugboat Company Limited (SP-PSAM). The new joint venture will provide towage services to vessels calling Ba Ria Vung Tau Province and support the large number of new port developments in the province.
SP-PSAM will be operational by the end of May 2009 with two tugboats capable of handling large container ships. SP-PSAM will increase its fleet as demand for towage services increases with the progressive commissioning of more terminals in the area.
Mr Le Cong Minh, General Director of Saigon Port said, "Saigon Port is proud to be the partner of both PSA International and PSA Marine in providing the port and marine services to the shipping community in Vietnam and the Ba Ria - Vung Tau area in particular. By combining our dedication and experience, the shipping community in the area would have more choices of world-class maritime services and hence ensuring the world-class standard of their own businesses."
Mr Sivarajan, Managing Director of PSA Marine said, "We are very happy to be partnering Saigon Port, with its extensive network and knowledge of the local shipping and maritime environment in Vietnam. Our parent company PSA International also has close links with Saigon Port through the joint venture SP-PSA International Port. SP-PSAM consolidates further this strong partnership and will provide world-class towage services to the shipping community in Vietnam."
About Saigon Port
Saigon Port is the central port serving the economic development of Ho Chi Minh City and the Southern part of Vietnam. With its long history and continued development, Saigon Port has had outstanding achievements in port operations through decades of servicing the large community of port users and stakeholders.
About PSA Marine (Pte) Ltd
PSA Marine, a wholly owned subsidiary of PSA International Pte Ltd, is one of Asia's leading harbour towage operators and the largest in Singapore. PSA Marine owns and operates more than 70 tugboats ranging from 2500 to 5000 horsepower and also has towage business presence in India, China, Hong Kong and Southeast Asia.
JOINTLY ISSUED BY SAIGON PORT COMPANY LIMITED AND PSA MARINE VIETNAM PTE. LTD.
For more information, please contact:
For Saigon Port Company Limited
Name: Mr Ho Kim Lan, Foreign Affairs Manager
Mobile: +84 903955750
For PSA Marine Vietnam Pte. Ltd
Name: Anna Fong, Senior Management Executive
Tel: +65 6321 1681
Fax: +65 6321 2019
Mobile: +65 9171 1219