PSA, PFR and IFM to jointly buy Poland’s largest container terminal

An aerial view of Singapore’s portAn aerial view of Singapore’s port

PSA International, the Polish Development Fund (PFR) and IFM Global Infrastructure Fund (GIF) have entered a deal to jointly acquire all of DCT Gdansk, Poland’s largest container terminal, from Macquarie Infrastructure and Real Assets (MIRA) managed fund Global Infrastructure Fund II, MTAA Super, AustralianSuper and Statewide Super.

DCT Gdansk, the fastest growing container port in Europe, is located on the Baltic deep-sea trading routes, offering a major gateway into Poland and Central-Eastern European markets, the parties said in a joint statement.

Tan Chong Meng, group CEO of PSA International, said the deal marked the company’s first investment in Eastern Europe. The pricing of the deal wasn’t disclosed.

“We look forward to working closely with our partners PFR and IFM to further develop [DCT’s] facilities and to strengthen its position as the preferred port of call for Poland and the Baltic Sea,” Tan said in the statement. “PSA will partner with shipping lines, logistics operators and cargo owners to deliver more efficient, flexible and robust supply chain solutions for the region.”

DCT Gdansk is the only Baltic terminal that can serve Ultra Large Container Vessels, which are the largest container ships globally with a capacity of up to 23,000 TEUs, or twenty-foot equivalent units, which is equivalent to a standard 20-foot shipping container, the statement said.

Tan Chong Meng, group CEO of PSA International, said the deal marked the company’s first investment in Eastern Europe. PSA is a global port group, with a network of more than 50 coastal, rail and inland terminals in 17 countries. It was previously called the Port of Singapore Authority, before becoming a corporation.

“We look forward to working closely with our partners PFR and IFM to further develop its facilities and to strengthen its position as the preferred port of call for Poland and the Baltic Sea,” Tan said in the statement. “PSA will partner with shipping lines, logistics operators and cargo owners to deliver more efficient, flexible and robust supply chain solutions for the region.”

Pawel Borys, CEO of PFR, said the port was a “special asset” as it was the only deep-water container terminal in Poland and the Baltic Sea basin. PFR is a financial group that offers support for developing companies, local governments and individuals and invests in sustainable social development and national economic growth, the statement said.

“The new owners support DCT’s ambitious expansion plans, including construction of a new terminal in the coming years to utilize and leverage economic growth of Poland and the CEE,” Borys said in the statement.

GIF is managed by IFM Investors, a global institutional fund manager with US$82 billion under management as of end-2018, the statement said. IFM Investors is owned by 27 Australian pension funds.

MTAA Super, AustralianSuper and Statewide Super are all Australian superannuation funds managing retirement savings. MIRA is an alternative asset manager, with 111.4 billion euros in assets as of end-September, the filing said.

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