By: Overseas Port Management (S) Pte Ltd
OPM Aden LLC
OPM Aden, associated with Overseas Port Management (S) Pte Ltd, a Singapore Company (OPM Singapore), recently won a one-year contract from April 2004 to operate and manage Aden Container Terminal (ACT) in Yemen. ACT is the premier container handling facility in Yemen functioning as the major regional hub in the Red Sea area.
The event followed a five-month Extended Handover Contract executed by OPM Aden that was successfully concluded in March this year. Both the contracts were signed with the Yemen Free Zones Public Authority (Yemen Authority), the government body in Yemen that took over ACT frm PSA Corporation Limied (PSA) in November 2003. The Yemen Authority concurrently handed over the management of ACT to OPM Singapore. OPM Singapore subsequently assigned the contract to OPM Aden, a locally incorporated company formed as a Special Purpose Vehicle.
It is significant to note that OPM Aden was invited to take up the new contract after having dramatically raised the activity level of ACT by more than 100% upon taking charge in November 2003. This was the result of aggressive marketing and high standards of performance by OPM Aden. OPM Aden has projected that ACT will handle at least 280,000 TEUs in Yr 2004. This target so far is on track up to April this year.
Mr. MMJ Subramaniam, a port veteran with more than 37 years with PSA formed OPM Singapore as a port management and consultancy company in April last year. He leads a group of senior managers and professionals with considerable experience in PSA. Subramaniam’s career with PSA culminated as Senior Vice President in the International Business Division before he retired last year.
With its position entrenched in ACT and success now as a corporate entity, OPM Singapore is stepping up its pursuit of a number of port and consultancy projects in Asia and in the Middle East, some already in an advance stage of discussion. The company’s record so far has been the successful completion of three consulting projects in Thailand and India. The projects involved the preparation of economic, business, engineering and operations models for new container terminals and a new commercial free zone facility. OPM Singapore was also assigned to carry out the due diligence for the Yemen Authority in connection with the takeover of ACT from PSA