CMA CGM, PSA Singapore Start 2nd Phase of Box Terminal JV
- Business & Finance
French container shipping company CMA CGM and PSA Singapore, a subsidiary of PSA International, launched the second phase of their container terminal joint venture in Singapore on March 27.
The CMA CGM – PSA Lion Terminal (CPLT) started operations with two mega container berths at PSA Singapore’s Pasir Panjang Terminal 5 (PPT 5) that had an initial annual capacity of 2 million TEUs in July 2016.
With the addition of two more berths under the second phase of its development, CPLT is now equipped with a total operating capacity of 4 million TEUs.
CPLT has achieved high service levels with an average Gross Berth Productivity of more than 160 moves per hour for the mega vessels since the beginning of 2017, CMA CGM informed.
The parties said that, leveraging the industry-leading port infrastructure and technologies, including the yard automation at PSA’s newest PPT expansion, CPLT “is well-primed to serve the mega vessels of CMA CGM and the affiliate shipping lines of the group.”
The move also enhances Singapore’s standing as a premier International Maritime Centre.
“This is another exciting milestone for CMA CGM as part of the group’s continuing efforts to make Singapore our main hub in the region, while reiterating the importance of Singapore to our global strategy,” Jean-Yves Duval, Senior Vice President Asia, CMA CGM Asia Regional Office, said.