Singapore’s PSA International, already a major global port operator, looks to expand its position in Europe with the acquisition of a stake in Germany’s inland Duisburg Gateway Terminal. PSA follows COSCO which made a major investment in Germany but which had withdrawn from the Duisburg project.
PSA signed an agreement to acquire a 22 percent take in Duisburg Gateway Terminal GmbH (DGT), the development company for the new inland container terminal. PSA joins Hupac, HTS, and Duisport as shareholders of DGT. Last fall, COSCO sold its 30 percent stake in DGT back to Duisport. No explanation was offered for the sale, but at the time COSCO was addressing concerns from the German government which moved to limit the Chinese company’s investments, including lower the percentage ownership limit for the Hamburg terminal to under 25 percent. COSCO completed its investment in June 2023 acquiring the position in Hamburg’s Container Terminal Tollerort (CTT).
With almost 30 daily trains arriving in the port from China, Duisburg is already a significant hub for Asian trade. The New Silk Road initiative of China includes it.
The development plans see Duisburg as the world's biggest inland container port. Over 2.5 million square feet will be occupied by the new terminal, the first phase of which is scheduled to debut in 2024. Nine of the port's 21 piers handle 4 million TEU annually in nine different container terminals. Over 58 million tons of goods are handled by the port each year, which is situated on the Rhine in Germany. A further claim made for the new DGT terminal is that it is the first inland container terminal in Europe that is completely climate neutral.
"PSA aims to strengthen the DGT partnership and support Germany's green energy transition in line with our strategic focus towards enabling smoother, more resilient, and sustainable trade," said Tan Chong Meng, Group CEO of PSA, in announcing plans for the investment. "PSA will leverage its global ports and supply chain network as well as its strong presence in continental Europe."
PSA already has a sizable presence in Europe in Belgium, as well as terminals in Italy, Portugal, and Poland, in addition to its operation in Singapore. Over 160 locations in 42 countries, PSA runs a total of 60 deep sea, rail, and inland ports.
The consent of Germany's competition and regulatory agencies is necessary for the investment in DGT.
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