• PSA increases shareholder stake in CrimsonLogic
• Complementary partnership to expand and develop innovative solutions with fusion of domain presence in port operations, trade facilitation and logistics execution
SINGAPORE: PSA International Pte Ltd (PSA) has increased its shareholding in CrimsonLogic Pte Ltd (CrimsonLogic) from 15 percent to 45 percent, which is a world leader in trade facilitation and eTrade products & services. With the increased relationship and the fusion of domain know-how of PSA in port operations and CrimsonLogic in trade facilitation, PSA and CrimsonLogic will collaborate on new innovations and trade solutions that can facilitate global trade flow and improve processes in the supply chain.
CrimsonLogic developed the world’s first Single Window “TradeNet” for Singapore in 1989. Since then, the company has implemented close to 20 other similar large-scale projects globally, including eGovernment portals. Its subsidiary Global eTrade Services (GeTS), launched in 2017, offers a comprehensive suite of services to help traders meet regulatory and compliance requirements from Government agencies and trade associations around the world. GeTS is currently connected to 23 Customs nodes globally and has connected more than 174,200 parties, facilitated more than 13.5 million trade transactions annually and moved more than 9 billion tonnes of cargo. PSA is one of the world’s largest port operators with over 40 terminals in 16 countries across Asia, Europe and the Americas. Its flagship operations are in Singapore and Antwerp.