COSCO SHIPPING Ports Limited and PSA signed a memorandum of understanding on 21 November 2018 for the addition of two new berths at the COSCO-PSA Terminal (CPT) in Singapore.

Regional CEO Southeast Asia Ong Kim Pong said, “PSA is honoured by the trust that COSCO SHIPPING has placed in us to serve as their main hub port for container transhipment in Southeast Asia. With their continued support and confidence in PSA, we will strive to augment their strategic presence in Singapore, and we look forward to the opportunities this brings to support global trade.”

With the launch of these two new berths, CPT will be equipped with a total of five mega-vessel berths, increasing its annual handling capacity from 3 million TEUs to about 5 million TEUs. The new berths, like the current three berths, will be supported by automated yard technology at Pasir Panjang Terminals, allowing for more efficient berthing arrangements, and enabling the terminal to increase productivity and greatly enhance its service capability and quality.

The cooperation will further deepen the collaboration between COSCO SHIPPING and PSA, enabling the two companies to seize the opportunities of globalisation and strengthen the role of the Port of Singapore as a global container transhipment hub.

For more information, please click HERE for the press release.