Port operator PSA International and gateway services provider SATS have signed a memorandum of understanding (MOU) in an effort to promote Singapore as a key multimodal transport hub.
As informed, the parties want to provide cargo owners and logistics service providers with “seamless connectivity for greater supply chain efficiency” .
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, the partnership between PSA and SATS 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 duo explained.
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, optimized transport costs, and faster delivery, according to the two companies.
Specifically, PSA and SATS will collaborate on a wide range of cross-industry initiatives, particularly in the perishables, electronics, and e-commerce spaces.
The partnership will facilitate data transparency and ease of shipment movement within different free-trade zones (FTZs), from “Yard-to-Port” data linkages and network extensions between both companies to enhanced track-and-trace capabilities.
Beyond physical cargo movement, SATS and PSA will also integrate their systems to aid regulatory compliance and build data analytics capabilities. COSYS+, a cargo terminal handling & management system operated by SATS, will be linked with CALISTA™, the global supply chain platform developed by PSA’s subsidiary GeTS Asia Pte Ltd, to provide real-time updates and greater visibility for shipments transported via multimodal channels.
“We hope our cross-industry initiatives with PSA will now enable the whole industry to market efficient multimodal solutions globally, through Singapore,” Alex Hungate, President and Chief Executive Officer, SATS, said.
“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 fulfill these demands,” Tan Chong Meng, Group CEO, PSA International, commented.
“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,” he added.