ASIA

Container terminal joint venture

10 years ago

Shipping group, CMA CGM, and PSA Singapore Terminals (PSA) have joined forces to form a joint venture company – CMA CGM-PSA Lion Terminal (CPLT).

CMA CGM and PSA will join forces to operate four mega container berths at Pasir Panjang Terminal

The newly created company will operate and use four mega container berths at Pasir Panjang Terminal Phases 3 and 4 in Singapore.

Rodolphe Saadé, vice chairman of CMA CGM Group, said: “CMA CGM is pleased to announce this important partnership with PSA.”

“It is a significant step, demonstrating the ongoing importance of Singapore to our strategy, and delivering on our commitment to making Singapore the Asian hub for the Group,” he added.

CPLT will start operations from the second half of 2016, and allow CMA CGM and its shipping line affiliates to use industry-leading port infrastructure and technologies at this latest Pasir Panjang expansion, which has the capacity and scale of operations to better serve mega vessels in the region.

Tan Chong Meng, group chief executive of PSA International, said: “CMA CGM-PSA Lion Terminal will cater to the volume growth of the CMA CGM Group in Asia.”

“PSA looks forward to working alongside CMA CGM to ensure that its hub operations flourish, and enhance Singapore’s premier status as the world’s busiest transhipment hub,” he added.