Pacific Carriers buys PSA's offshore unit for $500m

Hong Kong, London PSA, the Singapore-based world number two container terminal operator, has disposed of one of its last non-container businesses by selling its offshore marine activities to Pacific Carriers for about $500 million.

The deal will help PSA, owned by Temasek, the Singaporean state investment company, to focus on its container terminal operations, which are centred in Singapore, the world's busiest container port, but include operations in Europe and other parts of Asia. The sale of the unit, which operates tugs, crane barges and other vessels that move and supply offshore oil platforms, is likely to be the last significant sale of a non-core asset by PSA.

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