SINGAPORE (May 9): SATS and PSA International on Thursday signed a memorandum of understanding (MOU) to provide cargo owners and logistics service providers with seamless connectivity.
This partnership plans to improve supply chain efficiency and to boost Singapore’s status as a key multimodal transport hub.
Enterprise Singapore facilitated the multimodal transport collaboration as the lead agency driving Singapore’s growth as a global trade and connectivity hub. Combining sea and air connectivity services, this partnership strengthens Singapore’s position as a global transshipment hub for air and sea cargo, paving the way for new business models and supply chain innovation.
The freight industry, including small and medium-sized enterprises, also stands to benefit from improved multimodal linkages and transit systems for better supply chain efficiency, optimised transport costs, and faster delivery.
Under this MOU, the duo will collaborate on a wide range of cross-industry initiatives, particularly in the perishables, electronics, and e-commerce spaces. Beyond physical cargo movement, they will also integrate their systems to aid regulatory compliance and build data analytics capabilities.
Alex Hungate, president and CEO of SATS, says, ““When SATS became the world’s first ground handler to provide multimodal meat transshipment services between New Zealand and the EU, we demonstrated that multimodal connectivity can attract higher trade flows. Today, we hope our cross-industry initiatives with PSA will now enable the whole industry to market efficient multimodal solutions globally, through Singapore.”
Tan Chong Meng, group CEO of PSA, says, “Shippers are increasingly seeking innovative multimodal solutions for their cargo to reach their preferred markets competitively. This partnership with SATS will enhance Singapore’s ability to offer unique air-sea multimodal connectivity to fulfil these demands. In addition, through digitally connecting CALISTA and COSYS+, we will be able to offer multimodal users greater visibility of their cargo and better protection of cargo integrity, with optimised transit times and costs.”
Shares in SATS closed 1.35% higher at $5.24 on Thursday.
