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Cosco-PSA joint venture terminal to add two new berths
CHINA'S Cosco Shipping Ports is launching two new berths at its joint venture container terminal with PSA Corporation, having signed a memorandum of understanding on Wednesday with PSA Corp for the two berths.
This will lift the capacity of the Cosco-PSA Terminal to five million TEUs (20-foot equivalent units), up from three 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.
Cosco Shipping Ports' vice-chairman and managing director Zhang Wei said: "The Cosco-PSA Terminal is our major investment in South-east Asia; with the continuous support from parent company and shipping alliance, volume of the terminal continues to grow.
"The addition of the two new berths will enable us to secure more volume from the parent company and shipping alliances by providing them with high efficiency services. As our major hub port for transhipment in South-east Asia, the expansion in the terminal will facilitate us to capture more volume from the new global trade momentum in the region.”