SINGAPORE - Port operator PSA and French shipping giant CMA CGM have launched the second phase of their container terminal joint venture in Singapore.
This brings the total operating capacity at the CMA CGM - PSA Lion Terminal (CPLT) to four million TEUs (twenty-foot equivalent units) - double the initial annual capacity of two million when the terminal first started operations in July 2016.
The terminal, which now spans four mega container berths at Singapore's Pasir Panjang Terminal 5, has achieved high service levels with an average gross berth productivity of more than 160 moves per hour for the mega vessels since the beginning of this year, said CMA CGM and PSA in a joint press release on Monday (March 27).
It is "well-primed to serve the mega vessels of CMA CGM and the affiliate shipping lines of the group", said the release, adding that the expansion also enhances Singapore's standing as a premier international maritime centre.
Mr Jean-Yves Duval, senior vice president of Asia at CMA CGM Asia Regional Office said: "This is another exciting milestone for CMA CGM as part of the group's continuing efforts to make Singapore our main hub in the region, while reiterating the importance of Singapore to our global strategy."
CMA CGM completed its S$3.38 billion buyout of home-grown shipping firm Nepture Orient Lines (NOL) last year.
French President Francois Hollande and Mr Khaw Boon Wan, Coordinating Minister for Infrastructure and Minister for Transport, Singapore, officiated the launch on Monday.