Wednesday, June 15, 2016

Container Shipping Line and Box Terminal Handling Operator Begin Joint Venture

European Giant Expands Asian Operations
Shipping News Feature
FRANCE – SINGAPORE – Following the recent acquisition of Southeast Asian box freight line, Neptune Orient Lines (NOL), French container giant CMA CGM is expanding its presence in Singapore, forming a joint venture with PSA Singapore Terminals that will operate and use four mega container berths at the Pasir Panjang Terminal Phases 3 and 4 in Singapore.

The acquisition of NOL has seen instant growth for the French company which now has control of a fleet of 536 vessels. In 2015 the combined total of TEU’s moved by the pair exceeded 18 million and its new partner, PSA Singapore Terminals is owned by the PSA Corporation and claims the title of the world’s largest transhipment hub with well over 30 million TEU’s passing through in 2015. Rodolphe Saadé, Vice Chairman of CMA CGM Group commented:

“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.”

Starting operations in the second half of 2016, the joint venture company, CMA CGM-PSA Lion Terminal (CPLT) will allow CMA CGM and its shipping line affiliates to leverage the port infrastructure and technologies at this latest Pasir Panjang expansion, which it claims has the capacity and scale of operations to better serve mega vessels in the region. Tan Chong Meng, Group CEO of PSA International:

“We are honoured to embark on this win-win partnership. [The] CMA CGM-PSA Lion Terminal will cater to the volume growth of the CMA CGM Group in Asia. 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.”