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CMA CGM in Singapore container terminal jv with PSA

CMA CGM in Singapore container terminal jv with PSA
CMA CGM and PSA Singapore Terminals have formed a joint venture to operate a four berth container terminal in Singapore port.

CMA CGM – PSA Lion City Terminal will operate four mega-ship container berths in Pasir Panjang Terminal phases three and four from the second half of 2016.

The joint venture forms part of the French line’s commitment to Singapore in its acquisition of national shipping line Neptune Orient Lines (NOL) which it took over last week. The move will come as a blow to Westports in Port Klang, which has served as CMA CGM’s Southeast Asian transhipment hub for many years.

“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,” Rodolphe Saadé, Vice Chairman of CMA CGM Group.

CMA CGM is also shifting its Asian regional headquarters to Singapore from Hong Kong and announced key executive appointments at NOL on Tuesday.

Tan Chong Meng ceo of PSA commented: “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.”