mai hien

Cosco and PSA to expand Singapore jv terminal with third berth

Thursday, 14 December 2017 02:17

Cosco Shipping Ports (CSP ) and PSA signed a memorandum of understanding for the launch of a new berth at Cosco-PSA Terminal (CPT) in Singapore.

CPT was established in 2003 and the launch of the third berth follows the CSP supplemental agreement signed with PSA in 2016, which replaced the original two berths in CPT located at Pasir Panjang Terminal 1 with three new and larger berths at Pasir Panjang Terminal 5. These agreements are timely as the importance of Singapore as a pivotal regional maritime hub grows in tandem with the advent of mega vessels and new alliances in the shipping industry.

The first two berths had earlier commenced operations on 1 January 2017, with an annual handling capacity of 2m teu.

With the strategic reshuffle of shipping routes by Ocean Alliance, of which Cosco Shipping is a key member, throughput will continue to grow at Singapore’s port. With a view to meeting the new requirements from shipping alliances and mega-vessels, as well as maximize the utilization rate of the berths, CSP has decided to commence operations at the third berth on 1 January 2018, boosting capacity at CPT to 3m teu a year.

The new berth, like the first two berths, will be supported by an automated yard, allowing for more efficient berthing arrangements, enabling the terminal to increase productivity and greatly enhance its service capability and quality.

The cooperation will further deepen the collaboration between CSP and PSA, enabling the two companies to seize the opportunities of globalisation and further strengthen the role of the Singapore Port as a global container transshipment hub, reinforcing the shipping links between China and countries in Southeast Asia.