Press Release

PSA Corporation's Portnet.com Signs Joint Venture Agreement with Port of Dalian Authority to Develop State-Of-The-Art Information Technology Solutions for the Northeastern China Region

Portnet.com Pte Ltd (Portnet.com), a fully-owned subsidiary of PSA Corporation Ltd, has signed a joint venture (JV) agreement with the Port of Dalian Authority (PDA) and Dalian Container Terminal (DCT). The signing ceremony took place in August 2000, signifying the start of co-operation among the 3 parties to plan, develop, manage and market the PORTNET® system to the Northeastern China region. This agreement also paves the way for the implementation of the PORTNET® system in Dalian, following its success in Singapore.

The JV agreement was signed on behalf of Portnet.com Pte Ltd by Mr Wong Seng Chee, Senior Vice-President (Asia Pacific) and PSA Corporation’s Chief Representative for China, Mr Ho Yap Kuan, General Manager, Dalian Container Terminal, and Mr Sun Hong, Deputy Director, Port of Dalian Authority.

The agreement is in line with Portnet.com’s mission to develop advanced IT solutions for the port and shipping community. Its internet-based PORTNET® system, first developed in 1984, encapsulates PSA’s years of expert knowledge and experience in the shipping and port industry.

Mr Wong Seng Chee, Senior Vice-President (Asia Pacific) and PSA Corporation’s Chief Representative for China said, "The Joint Venture demonstrates the close and successful working relationship between PSA Corporation and the Port of Dalian Authority. The signing is timely because the container shipping, as well as the IT industry in China, has been experiencing strong growth in recent years. We have no doubt that the partnership between PSA - pioneer in the use of IT in the shipping and port industry since the 70’s, and a leading provider of IT solutions in this millennium, and the Port of Dalian Authority, with its extensive knowledge of the China market, will enjoy synergies that will ensure a successful project for parties concerned."

Mr Sun Hong, Deputy Director, PDA said, "PDA and PSA have been working closely in the Dalian Container Terminal project since 1996, and DCT’s success speaks volumes about our win-win partnership. By combining the expertise of our companies, we will be able to facilitate the development of port technology in Dalian to even greater heights in the future."

Portnet.com
Portnet.com was launched on 8 May 2000 to create more value through e-commerce solutions for the shipping community. It builds on PSA’s expertise in establishing PORTNET® as the only nationwide e-commerce community for ports and shipping in the world today since 1984. PORTNET® has 6,400 users and 5 million transactions a month.

Dalian Container Terminal
Dalian Container Terminal (DCT), PSA’s flagship project in China, has enjoyed tremendous growth since it commenced operations in 1996. DCT recently announced its record container throughput of 628,471 TEUs in 1999, a year-on-year growth of 32%. The terminal was voted ‘Best Emerging Container Terminal’ at the Lloyd’s List Maritime Asia Awards in 1999.