CMA CGM forms JV with PSA to operate four berths at Pasir Panjang

Operations will begin in 2H16.

Shortly after acquiring Singapore-based Neptune Orient Lines, French shipping conglomerate CMA CGM revealed that it will form a joint venture company with PSA Singapore Terminals to operate and use four mega container berths at Pasir Panjang Terminal Phases 3 and 4.

The joint venture company, CMA CGM-PSA Lion Terminal Pte. Ltd. (CPLT), will start operations from the second half of the year. The JV will allow CMA CGM and its affiliates to use advanced facilities at the latest Pasir Panjang expansion, which has the capacity and scale of operations to better serve mega vessels in the region.

“It is a significant step, demonstrating the ongoing importance of Singapore to our strategy, and delivering on our commitment to making Singapore the Asian hub for the Group,” said Rodolphe Saadé, Vice Chairman of CMA CGM Group.