By
Rebecca Gibson |
Airport and cruise terminal services provider SATS plans to purchase Singapore Cruise Centre (SCC) from investment company Temasek Holdings to capitalise on the growth of the cruise industry in the Asia-Pacific region.
SATS will complete the SGD110 million acquisition, which is subject to regulatory and shareholder approval, through its SATS Airport Services and SATS-Creuers Cruise Services subsidiaries. The company will then own the international cruise and regional ferry terminal at SCC’s HarbourFront Centre, as well as the Tanah Merah and Pasir Panjang ferry terminals. SATS-Creuers – formed by SATS Airport Services and Creuers del Port de Barcelona – already operates the Marina Bay Cruise Centre Singapore.
“This transaction represents a unique opportunity and Singapore Cruise Centre has a compelling fit with our existing cruise handling and terminal operations,” said Tan Chuan Lye, CEO and president of SATS. “Together with our strong partnership with Creuers, this transaction will enable us to grow our gateway services business, which will benefit the cruise industry here as a whole.”
SATS will extend its Cruise-Fly and Fly-Cruise services from Changi Airport to SCC’s HarbourFront terminal, enabling passenger and baggage transfers between Changi Airport and the cruise centres.
In addition, the deal will enhance SATS’ position as a gateway and ship supplies services provider across Singapore and the Asia Pacific, increasing the region’s profile as a homeport destination. It will also improve operational efficiency and enable the company to deploy berths and resources more efficiently, promoting Singapore as a regional cruise hub and attracting more operators.
“The future is bright for the cruise industry in Asia Pacific,” said Lye. “The combined entity can leverage our regional airport presence to facilitate and provide a seamless travel experience for Fly-Cruise passengers. This will bolster Singapore’s position as an attractive regional cruise hub and homeport for cruise lines which in turn will benefit the economy.”
SATS-Creuers and SCC will continue to operate independently until the transaction is finalised and completed.