Top > News Releases > PSA CEMENTS JV WITH K-LINE, YANG MING & HANJIN AT DEURGANCK TERMINAL, ANTWERP

September 1, 2005
Kawasaki Kisen Kaisha, Ltd.

PSA CEMENTS JV WITH K-LINE, YANG MING & HANJIN AT DEURGANCK TERMINAL, ANTWERP

On the 31st of Aug 2005, PSA HNN & K-Line-Yang Ming-Hanjin (KYH) announced the formation of a joint-venture company, Antwerp International Terminal NV, to operate multiple berths at the PSA HNN Deurganck Terminal in Antwerp wef Jan 2006.

KYH is PSA's long-time global customer, and this joint-venture is an important step which further strengthens the partnership between these two global players, Antwerp will become the European hub for KYH to handle its rapidly expanding FE-Europe trade.

PSA HNN plans to invest more than 500M in the next 5 years to double its terminal capacity to over 10 MTEU at Right and Left Bank of the River Schelde in Antwerp. The KYH-PSA JV berths will be located at PSA HNN's Deurganck Terminal at the Left Bank.

Mr T. Shimizu, Senior Managing Director K-Line, said, "We have been customers of Antwerp Port for a long time, its operational flexibility and efficiency is crucial in enabling KYH to deliver high quality services to our customers. This KYH - PSA partnership demonstrates our continued confidence in the Port of Antwerp."

Said Mr R. Ho, Executive Vice President Yang Ming, "This JV is a win-win for all the partners. KYH secures assured capacity to accomodate our rapidly growing volumes, while PSA is assured of sustained volume growth for many years to come."

According to Mr G.S. Choi, Senior Vice President Hanjin, "The launch of our new 8000 TEU plus container vessels means bigger volumes and fewer port calls, we will centralise our volumes in a few mega hubs, our JV berths with its excellent operations and connectivity which will enable us to serve our customers better."

Says Mr Pierre Timmermans, CEO PSA Europe, "This KYH-PSA joint venture cements PSA's long time business relationship with KYH, and signifies the beginning of a new partnership to better meet the changing needs of KYH and its customers."

ENDS JOINTLY ISSUED BY K-LINE, YANG MING, HANJIN AND PSA

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