Cosco-PSA venture to invest in berths for next-gen mega containerships

Singapore

A JOINT venture between Cosco Pacific and PSA Corporation will invest in new container berths capable of serving next-generation, mega containerships in Singapore.

An agreement was signed on Monday by the partners of the venture, Cosco-PSA Terminal (CPT), in Shanghai. The venture was inaugurated in 2003 to establish a terminal that has been operating two berths under part of PSA's first development phase of the Pasir Panjang Terminal. CPT will migrate to three new mega berths under the third and fourth development phases of Pasir Panjang Terminal.