Nippon Yusen Kaisha (NYK; Head office: Chiyoda-ku, Tokyo; President: Koji Miyahara), PSA Singapore Terminals (Chief Executive Officer: Kuah Boon Wee), and Kawasaki Kisen Kaisha, Ltd. ("K" Line; Head Office: Minato-ku, Tokyo; President: Hiroyuki Maekawa) have agreed on a contract for establishing the first dedicated automobile terminal at PSA Singapore Terminals.

The new joint venture has been named Asia Automobile Terminal Singapore (AATS; Head Office: Singapore; Chairman, AATS: Tan Puay Hin), and by January 2009, it will establish and operate a dedicated terminal for automobiles using two berths at PSA's Pasir Panjang Terminal.

PSA, which provides transhipping for finished automobiles for export from Asian countries, is a very important harbour in Asia for NYK's finished-automobile transport service.

By establishing this new joint venture, NYK will continue to develop its competitive network for the finished-automobile transport service that the company offers through the Port of Singapore in order to best position itself to respond to demand in Asian countries, which is expected to increase rapidly in the future.

PSA Singapore Terminals
PSA Singapore Terminals operates the world's leading container transhipment hub. It links shippers to an excellent network of 200 shipping lines with connections to 600 ports in 123 countries. In 2006, PSA Singapore Terminals handled 24 million TEUs, and its Multi-Purpose Terminals moved over 18 million tonnes of break-bulk and specialised cargo. Website: www.singaporepsa.com