Liners jump ship from DP World to PSA

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Nov 2009

Indian reports say PSA International has won over three box liners from rival operator DP World, to use its new terminal in Chennai by offering lower rates. A service (Indfex 2) run by Pacific International Lines (PIL), K Line America and state-run The Shipping Corporation of India (SCI) will start calling at Chennai International Terminals (CIT) from December 16, sources said.
Local firm Sical Logistics owns a share in CIT, but PSA International is the controlling stakeholder with an approximate 75% holding.
The three liners currently call at DP World's Chennai Container Terminal (CCT) as part of Indfex 2.
Indfex 2 is a direct weekly service shipping boxes from the east coast of India to East Asia, South Asia and South-East Asia, mainly China and back.
There are to-date two box terminals at the state-owned port of Chennai.
“The consortium partners have given a termination notice to the DP World terminal to stop calling there after signing an agreement with the PSA terminal,” an executive at SCI told LiveMint.com. “We were able to negotiate better rates with the new terminal.”

Source: Portworld