COSCO Shipping Ports (CSP) has signed a memorandum of understanding for the addition of two new berths at the COSCO-PSA Terminal (CPT) in Singapore.
With the launch, the facility will be equipped with five mega-vessel berths, increasing its annual handling capacity from the 3m teu of the current three berths to about 5m teu.
According to the partners, the extra berths will support COSCO’s ability to deal with “the advent of mega-vessels and mega-alliances in the shipping industry”.
Zhang Wei, vice chairman and managing director of COSCO Shipping Ports, said: “The CPT 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.”
He continued: “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.”
The new berths, like the current three berths, will be supported by automated yard technology at Pasir Panjang Terminals, aiming to allow for more efficient berthing arrangements, and enabling the terminal to increase productivity and enhance its service capability and quality.
Ong Kim Pong, regional CEO South East Asia at PSA International, said: “We will strive to augment [CSP’s] strategic presence in Singapore, and we look forward to the opportunities this brings to support global trade.”