Joint venture ends 25-year business relationship

Port Services PNG Ltd, a joint venture of Steamship and two Motu-Koita associations, has officially ended its 25 years of a successful business relationship.
A cheque each was presented to Tabudubu Ltd and H&E Stevedores Ltd to distribute to shareholders as the business had ended and assets sold.
“We’re very grateful to our fellow shareholders and the staff of PSL for their commitment and contribution to what has been a very successful business,” PSL general-manager Gordon McMaster said during the presentation of cheque.
“Over the years, the company has provided employment to thousands of men and women from Hanuabada and Elevala, as well as people from Baruni and Tatana.
“In fact, some of our employees are actually third-generation.”
Port Services started its operations in 1979 at Motu-Koita area and would move to Motukea.
The appointment of an international terminal operator has required the closure of the business.
McMaster said it was pleasing for Steamships to have had a business relationship that returned significant income and benefit to a local community.
“Today’s payment is a realisation of the significant value generated over the lifetime of the business.”
Tabudubu chairman Turaho Morea expressed their gratitude to Steamships and Port Services for their confidence and investment in the people of Motu-Koita.