Cosco Shipping Ports (CSP) is adding two more berths to its joint venture terminal in Singapore with PSA Corp.
Cosco Shipping Ports (CSP) is adding two more berths to its joint venture terminal in Singapore with PSA Corp.
CSP and PSA inked a Memorandum of Understanding (MoU) on Wednesday for two additional berths at Cosco-PSA Terminal (CPT) in Singapore.
For COSCO(Shipping Company Search), the additional berths will increase the joint venture's capacity from 3m teu a year to 5m teu with five berths all capable of handling mega-containerships. PSA said the berths would be supported by automated technologies at its Pasir Panjang Terminal.
Zhang Wei, vice chairman and managing director of CSP said: “The addition of the two new berths will enable us to secure more volume from the parent company and shipping alliances by providing them with high efficiency services. As our major hub port for transhipment in SE Asia, the expansion in the terminal will facilitate us to capture more volume from the new global trade momentum in the region.”
Ong Kim Pong, regional ceo Southeast Asia, PSA International, said, “PSA is honoured by the trust that CSP has placed in us to serve as their main hub port for container transhipment in Southeast Asia.”
The CPT joint venture was founded in 2003 when PSA in moved away from being a purely common user facility in Singapore(Seaport Search).
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