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PSA International Completes Acquisition of BDP International

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PSA International Completes Acquisition of BDP International

PSA International Pte Ltd (“PSA”), a leading global port group and trusted partner to cargo stakeholders, announced that it has completed its acquisition of 100% of the shares of BDP International, Inc. (“BDP”), a leading provider of globally integrated supply chain, transportation and logistics solutions, from New York-based private equity firm Greenbriar Equity Group, L.P. This follows the receipt of formal approvals from relevant authorities required by the merger agreement, initially announced in December 2021.

Together, PSA and BDP will extend their logistics ecosystem with solutions that focus on supply chain orchestration and cargo flow optimization. In a climate where end-to-end supply chain visibility and resilience are critical, the acquisition of BDP adds strength and depth to PSA’s logistics and supply chain offerings beyond the port. At the same time, customers of BDP will benefit from additional insights and connectivity to PSA’s global network of deepsea, rail and inland terminals, as well as affiliated businesses in distriparks, warehouses and marine services.

PSA International welcomed BDP’s over 5,000 talented employees into the PSA family. Tan Chong Meng, Group CEO of PSA International expressed his gratitude at Leveraging their complementary capabilities and footprints envisioning a future that will bring out the best of both BDP and PSA, unlocking greater value for cargo owners, creating new opportunities for business growth, and enabling fresh innovations for more agile, resilient, and sustainable supply chains.

Mike Andaloro, Chief Executive Officer and President of BDP International stated that the transformative acquisition presents them with the unique opportunity to re-imagine supply chain solutions by combining the strengths of their asset-light solutions model with PSA’s impressive global infrastructure.

Credit Suisse served as sole financial advisor to PSA, while Shearman & Sterling LLP acted as legal advisor to PSA.


PSA International (PSA) is a leading port group and trusted partner to cargo stakeholders. With flagship operations in Singapore and Antwerp, PSA’s global network encompasses over 50 locations in 26 countries around the world. The Group’s portfolio comprises more than 60 deepsea, rail and inland terminals, as well as affiliated businesses in distriparks, warehouses, logistics and marine services. Drawing on the deep expertise and experience from a diverse global team, PSA actively collaborates with its customers and partners to deliver world-class port services alongside, develop innovative cargo solutions and co-create an Internet of Logistics. Visit us at, or follow us on LinkedIn and Facebook (@globalpsa).


With headquarters in Philadelphia and 134 offices worldwide, BDP International is a leading provider of global, integrated supply chain, transportation and logistics solutions. It serves more than 5,000 customers and provides a range of services, including lead logistics (LLP) and fourth-party logistics (4PL) solutions; ocean, air and ground transportation; origin management, export freight forwarding; import customs clearance and regulatory compliance; trade compliance, analytics and optimization solutions; project logistics; warehousing, and supply chain visibility and predictive ETA tracking through its proprietary technology BDP Smart®.


Greenbriar is a private equity firm focused on investments in market-leading services and manufacturing businesses with proven management teams capitalizing on strong long-term growth prospects that can benefit from its deep sectoral expertise and strategic insight alongside its operating capabilities and network of senior executive relationships. Greenbriar has managed over $6 billion of total committed capital across five investment funds since 2001.

IMO 2020


The shipping industry has experienced one heck of year since IMO 2020 took effect. Looking back, it is reasonable to state that ocean shippers were focused solely on ensuring compliance was achieved to meet the new standards in combating the emissions footprint. Outlined in our article from last year, the issue of cleaning bunker fuels for the first time paired with the contractual challenges presented by the regulation posed new sets of challenges to be met–and quickly.

Fast-forward to mid-2020, and shippers found themselves in a completely overturned economic situation due to the pandemic. Capacity restraints, shutdowns and cost fluctuations were beyond what any industry could have predicted for 2020. When the impact of the pandemic was truly felt for shippers in mid-March, IMO 2020 compliance quickly became a backburner concern, due in part to proactive preparations in meeting regulations and identifying how the industry would overcome the new disruption. This “new normal” forced changes in forecasting and management on a new level. 

Global Trade Magazine talked with Carmen Gerace, BDP International’s chief transportation officer, about the state of the ocean shipping sector and how IMO 2020 in conjunction with the pandemic shifted operations. BDP International is one of the world’s leading, privately held freight logistics and transportation management firms.

“Most of our clients, at this stage, have really done a superb job at meeting compliance standards for IMO 2020 and reducing the carbon footprint,” Gerace says. “Interestingly enough, IMO 2020 got pushed back to mid-March at the onset of the pandemic with everything shutting down. Our clients had a year to prepare for IMO 2020 and they prepared well and were ready to go. Places like Freight 4 did not contribute to the current chaos of the ocean situation we have today. Industry players were prepared and ready, then everything else hit, and it went from there. That’s where we sit today.” 

Aside from COVID-19, reducing emissions has been a success for most of the industry, according to Gerace. Despite setbacks and delays, shippers were responsive to the call of IMO 2020, contributing to the overall reduction in emissions output and preparing vessels accordingly. 

“The risk of non-compliance simply could not be afforded by ocean line providers,” Gerace says. “New builds, scrubbers, retrofitting and the undertaking that they had to put forth to achieve this had to be pushed back; however, it has been a success thus far. Additionally, the threat of ships being restricted to berthing into ports pushed compliance efforts even more. Ocean carriers simply could not afford that risk.”

For 2021, the industry will have COVID disruptions to manage. From ensuring the safety of employees to accurate forecasting, it is critical for ocean liners to predict market fluctuations to keep costs and operations at optimal levels. With April just a couple of months away, shippers will have new rates to consider, as the expiration for current rates is on the horizon with the potential spike in air freight to transport the COVID vaccine. How these fluctuations are handled is a matter of timely forecasting and proactive measures now to ensure success for the next year and beyond. 

“COVID recovery remains the largest challenge for shippers currently,” Gerace says. “This, paired with the potential increased concentration of the air freight markets due to the demand in transporting the vaccine, will undoubtedly present problems. As we anticipate an influx in vaccine transportation demand, it is important to remember that air-cargo capacity has its limitations, and this could create an attractive opportunity for ocean shipping. 

“The downside to this is increasing capacity on the ocean side, becoming more backed up than it already is. Once that occurs, costs are at the top of mind. Costs are up roughly 170 percent compared to where things were this time last year. This will not go down within the first four months of 2021 and quite frankly, it will never go back to where it was. It is going to come down again at some point, but the question is, when? Some predict May, some predict June.” 

Gerace notes that the industry relies heavily on the transpacific eastbound market, and all those rates expire by the end of April. 

“It is critical for the industry to get freight ready for 2021 and the beginning of 2022,” he says. “Cargo carriers, BCOs, etc. must work on their budgets and operations anticipating this. The question is, how much have they taken into play that the first four months of 2021 could very well be as bad as all of 2020 from the cost perspective?”

At this point, maintaining compliance efforts and efficiencies are on the backburner for industry players. What is more of a concern comes in the form of accurate predictions, cost management and proactive preparations based on these forecasts–predicting market challenges related to COVID, and how that will trickle down to shippers’ bottom lines. BDP takes these factors into account for their clients, encouraging forecasting to ensure the timely allocation of resources, space and equipment, which Gerace characterizes as critical in these times. The more a customer can forecast out, he says, the better off BDP can align with partners to quickly and effectively reserve resources needed for success. 

“BDP has different options for customers from LCL cargo to sea-air, air freight, chartering and more,” he explains. “We look at anything else our customers’ ask us to do. Operations come at a cost and sometimes sticker shock is a challenge, which we understand. Our goal is to continue to provide weekly options and provide information on port capacity, which ports are running on time, where there is an equipment surplus, and where deficits are a concern, so customers can plan how long of a delay to expect. This all goes back to forecasting. Forecasting is key for everybody, especially in the current market. The further out the shipper can forecast, the better. This is critical because space and rates are at premiums and will remain this way in the future. Everybody is backed up.”

The industry has survived one of the most intense years for disruption. With compliance a non-issue, shippers will be tested on a new level in preparing for the future. As we enter 2021, partner relationships will be critical in maintaining to ensure the best options for continued operations are available. The hope from the COVID vaccine will present its own set of challenges, but with the right partner they can be managed. 


As BDP International’s chief transportation officer, Carmen Gerace oversees all aspects of global transportation, including the implementation of new transport solutions and product offerings while also developing future transport strategy. Throughout his 25-year+ career in the industry, he has held varying managerial and executive positions at BDP. He is based in Philadelphia and can be reached at