The joint venture company, which was formed by COSCO Pacific Limited and PSA Corporation Limited, is investing in new container berths in Singapore to serve the next generation of mega containerships.
COSCO-PSA Terminal Pte Ltd (CPT), a joint venture company inaugurated in 2003 between COSCO Pacific Limited and PSA Corporation Limited (PSA), is investing in new container berths at the Port of Singapore, PSA said.
CPT currently has two berths at phase one of PSA’s Pasir Panjang Terminal (PPT). However, CPT will move its operations from these two berths to three new mega berths at PPT’s third and fourth phases.
The new berths will commence operations from 2017. They will have the capability to serve the next generation of mega containerships and will be supported by the latest automated and intelligent port technologies.
“The investment in three new mega berths is strategically important to both partners and also a clear demonstration of their confidence in Singapore as an international maritime center with a well-connected transshipment hub,” Senior Minister of State, Prime Minister’s Office, Ministry of Foreign Affairs and Ministry of Transport, Josephine Teo said.
Overall, the Port of Singapore is currently frequented by 159 liner services, the majority of which are dedicated to serving the container trade, according to data from ocean carrier schedule and capacity database BlueWater Reporting’s Port Dashboard tool.
CPT invests in new Singapore container berths
