PSA and MSC explore partnership for phase 2 of BMCT

24 Aug 2023 CW Team

The arrangement aligns with the concession agreement framework for terminal developers/operators. Following the lock-in period, typically lasting two years after commercial operation begins, equity dilution can be considered. PSA International, the parent company of BMCT, has surpassed this lock-in period.

BMCT is already engaged in expanding its capacity with an additional 1 km of quay, equipping it to handle 2.4 million twenty-foot equivalent units (TEUs) annually, at an investment of around Rs 31.96 billion. The second phase of BMCT is slated for operation commencement in early 2025.

The proposed partnership is significant for MSC, which has been keen on securing a presence in JN Port. The company had almost clinched a tender to privatise a container handling terminal operated by the state-owned port authority. The partnership could potentially divert 50,000-60,000 TEUs per month currently handled by DP World's terminals, facilitating MSC's exclusive usage of BMCT.

This potential deal is contingent on PSA International's decision regarding the management and operation of BMCT's second phase. As BMCT handles a growing volume of cargo, a partnership with MSC could further bolster JN Port's status as a key gateway for India's import-export trade.

Besides PSA International, major terminal operators like DP World, APM Terminals, and CMA Terminals Holding already have a presence at JN Port. The upcoming connectivity of JN Port to the western dedicated freight corridor (DFC) network is anticipated to enhance the port's competitiveness in India's trade landscape.

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Singapore's PSA International and Mediterranean Shipping Company (MSC) are reportedly in preliminary discussions over a potential partnership for the second phase of Bharat Mumbai Container Terminals (BMCT) at Jawaharlal Nehru Port (JN Port), Mumbai. The collaboration could offer exclusive use of the terminal to MSC, the world's largest container line headquartered in Geneva. The companies might also explore the possibility of MSC acquiring a minority stake in BMCT.The arrangement aligns with the concession agreement framework for terminal developers/operators. Following the lock-in period, typically lasting two years after commercial operation begins, equity dilution can be considered. PSA International, the parent company of BMCT, has surpassed this lock-in period.BMCT is already engaged in expanding its capacity with an additional 1 km of quay, equipping it to handle 2.4 million twenty-foot equivalent units (TEUs) annually, at an investment of around Rs 31.96 billion. The second phase of BMCT is slated for operation commencement in early 2025.The proposed partnership is significant for MSC, which has been keen on securing a presence in JN Port. The company had almost clinched a tender to privatise a container handling terminal operated by the state-owned port authority. The partnership could potentially divert 50,000-60,000 TEUs per month currently handled by DP World's terminals, facilitating MSC's exclusive usage of BMCT.This potential deal is contingent on PSA International's decision regarding the management and operation of BMCT's second phase. As BMCT handles a growing volume of cargo, a partnership with MSC could further bolster JN Port's status as a key gateway for India's import-export trade.Besides PSA International, major terminal operators like DP World, APM Terminals, and CMA Terminals Holding already have a presence at JN Port. The upcoming connectivity of JN Port to the western dedicated freight corridor (DFC) network is anticipated to enhance the port's competitiveness in India's trade landscape.

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