CMA CGM and PSA to create a container terminal joint venture in Singapore
CMA CGM and PSA Singapore Terminals will form a joint venture company CMA CGM-PSA Lion Terminal (CPLT) to operate and use four mega container berths at Pasir Panjang Terminal in Singapore.
CPLT will start operations from the second half of 2016, and allow CMA CGM and its shipping line to make use of a recent Pasir Panjang expansion, which has the capacity and scale of operations to better serve mega vessels in the region.
CPLT will provide long-term terminal services to CMA CGM and its shipping line affiliates.
“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,” Rodolphe Saadé, vice chairman of CMA CGM Group said.
“CMA CGM-PSA Lion Terminal will cater to the volume growth of the CMA CGM Group in Asia,” Tan Chong Meng, Group CEO of PSA International added.