Press Release

PSA Corporation’s Portnet.com’s Partnership with the Port of Seattle

Portnet.com Pte Ltd (Portnet.com), a fully-owned subsidiary of PSA Corporation, has signed a Memorandum of Understanding (MOU) with the Port of Seattle today, 12 January 2001, to market, implement and operate a Port and Shipping Community System for the Port of Seattle. The win-win partnership will allow the two organisations to combine their resources and capabilities, and pave the way for establishing "Portnet Seattle".

PORTNET® is the world’s first nation-wide business-to-business (B2B) port and shipping e-community. It encapsulates 16 years of IT (Information Technology) and operational domain knowledge, as well as scalability and reliability of information handling. The variety of its modules includes online ordering and documentation systems, and facilitation of fulfilment and track-and-trace services. When implemented, it will benefit all players in the port community of Seattle through timely and accurate information flow, reduced cost of operations, efficient operational flow and faster response time.

The MOU was signed by Mr Robert Yap, Managing Director, Portnet.com Pte Ltd/ Executive Vice-President (Information Technology), PSA Corporation and Mr M. R. Dinsmore, Executive Director, Port of Seattle.

Mr Yap said, "Portnet.com is honoured to have the opportunity to work with the Port of Seattle, a leader in the U.S. port business. This MOU is significant as it also marks Portnet.com’s first collaboration with a U.S. port. We look forward to sharing our knowledge in port development and container handling, IT expertise and operations know-how with the Port of Seattle to achieve win-win results."

"The Port of Seattle has always been an innovative industry leader in cargo management, and in our view, PSA Corporation’s Portnet.com is the world’s foremost provider of this next-generation technology," said Mr M. R. Dinsmore, Executive Director of the Port of Seattle. "Portnet.com’s technology will enable the Port of Seattle to exceed our current capabilities as a comprehensive, efficient port, adding tremendous value to our customers."

The MOU with the Port of Seattle reflects Portnet.com’s vision to establish and implement the PORTNET® system in ports all over the world. Portnet.com has signed an agreement with the Port of Dalian Authority and Dalian Container Terminal in August 2000 to develop, manage and market the PORTNET® system to the northeastern China region.

Portnet.com
Portnet.com was launched on 8 May 2000 to create more value for the shipping community through e-commerce solutions. First developed in 1984, the internet-enabled PORTNET® is the nerve centre of a nation-wide system that links the shipping lines, hauliers, freight forwarders, shippers and government agencies in Singapore, and facilitates B2B transactions for the port and shipping industries. PORTNET® also enhances productivity and reduces operational costs for users, through the efficient management of information via a central database. It currently has 6,500 users, with 5.5 million transactions in a month.

Port of Seattle
The Port of Seattle operates one of the United States’ largest seaports, handling an average of 1.5 million TEUs (Twenty-Foot Equivalent Units) a year with a total cargo value of more than US $32 billion. The Port also operates Seattle-Tacoma International Airport, one of the nation’s busiest airports, and Fishermen’s Terminal, homeport to the North Pacific fishing fleet. Two recreational marinas, a cruise ship terminal, and an international conference centre, are also operated by the Port.