COSCO SIGNS TERMINAL AGREEMENT WITH PSA
COSCO Container Lines has signed a long-term terminal agreement with PSA, the operator of the port of Singapore.
COSCO said that the “virtual terminal agreement” consolidates Singapore’s position as its regional hub. COSCO said that the terminal agreement will support its future growth as it expands into new markets and introduce new services. This year, COSCO has launched three new services out of Singapore.
Under the agreement, PSA will customize its services for COSCO’s needs.
The port of Singapore does not allow shipping lines to operate their own terminals in the port.