A safe bet

摘要

PSA International has invested in 12 over-seas terminals in recent years in China, Thailand, Japan, Belgium, Italy and Portugal. Recently, it unveiled the latest addition to its expanding portfolio - Incheon Container Terminal (ICT), South Korea. ICT's first vessel, the Wan Hai 211, called at Incheon on July 3, 2004, and it appears the port has had little trouble in attracting several more prominent base customers, Hyundai Merchant Marine and Dongnama Shipping. Roger Tan, president of ICT, is no stranger to the region, having previously managed PSA's Dalian facility. He said: 'This is a build operate transfer (BOT) project. It belongs to the government and we have a concession to operate the terminal for 40 years. The South Korean Ministry of Maritime Affairs and Fisheries (MOMAF) and the customs authorities are excited because it has created new capacity. The government has been very supportive of our investment. The Samsung Corporation has a 29.9% stake in the venture, and constructed the terminal. We wanted to work with them because of their overall market strength in South Korea, and the fact that their affiliated companies can help push cargo through the terminal.'