THE NEXT PORT SCANDAL….Tomorrow’s news today! When Dubai Ports World won its now infamous bid to acquire P&O, it beat out an offer by rival PSA International. PSA, which stands for “Port of Singapore Authority,” is owned by the state of Singapore.
So what’s next for PSA International? The Telegraph has the story:
[PSA head Eddie Teh] is now expected to take a serious look at Stevedoring Services, which has container terminals along the US West Coast and is one of the last remaining big players in the industry.
PSA already operates ports in four European countries, and if it acquires Stevedoring Services it will end up running terminal services in Seattle, Los Angeles, San Diego, Houston, Charleston, New Orleans, and a whole bunch of other U.S. cities.
So….how do we feel about a state-owned port operator taking control of terminals all over the United States? Singapore, after all, though nominally a democracy, is in reality a dynastic, authoritarian state. It has a sizable Muslim population of its own, and is surrounded by the predominantly Muslim countries of Malaysia and Indonesia, both of which are known to harbor al-Qaeda cells.
Are we OK with these guys running our ports? Just asking…..