The COSCO-PSA Terminal (CPT), a joint venture (JV) between PSA and COSCO Shipping Ports, is set to add two berths following a memorandum of understanding (MoU) signed by the JV partners in November 2018
The new additions will bring CPT’s mega-vessel-sized berths to five and will increase its handling capacity from 3M TEU to about 5M TEU.
Like the existing berths, the two new 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 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 southeast Asia; with continuous support from [the] parent company and shipping alliance, [the] 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 southeast Asia, the expansion in the terminal will facilitate us to capture more volume from the new global trade momentum in the region.”
CPT has served as a major hub for container shipping in the region since its establishment in 2003. In 2017, CPT moved from a two-berth terminal to three mega berths at Pasir Panjang Terminals. It is one of several joint-venture terminals PST has established with industry partners, including the CMA CGM-PSA Lion Terminal set up with CMA CGM in 2016, the MSC-PSA Asia Terminal set up in 2006 with Mediterranean Shipping Company, the PIL-PSA Singapore Terminal set up with Pacific International Lines in 2008 and the Asia Automobile Terminal (Singapore) set up with Nippon Yusen Kabushiki Kaisha and Kawasaki Kisen Kaisha Ltd in 2009.
A further joint venture, operating four berths with Ocean Network Express, was announced in December 2018 and is set to commence operations in the first half of 2019 and operate four mega-container berths with a combined annual handling capacity of 4M TEU.
PSA International regional chief executive officer for southeast Asia Ong Kim Pong said “We are honoured by Ocean Network Express’s confidence in PSA and are pleased to embark on a win-win and mutually beneficial partnership with them.
“Recently, PSA has developed many enhanced products including data analytics tools to boost port efficiency and initiatives for cargo solutions to address market needs.
“We look forward to working alongside ONE to grow its value, strengthen its position as a major global player, and at the same time, enhance the status of the Port of Singapore as a premier global container and cargo orchestration hub.”
In January 2019, PSA International announced volumes had increased by 9.1% over 2017, with flagship PSA Singapore contributing 36.31M TEU and PSA terminals outside Singapore handling 44.69M TEU.
Describing 2018 as a “dual-speed year,” PSA group chief executive Tan Chong Meng said “The slow but steady pace of global container trade growth continued, despite geopolitical shifts and rising trade barriers.
“At the same time, there was a surge in digitalisation activities within the global supply chain which promised better visibility and efficiency, while the industry continues to grapple with issues of data standardisation and collaboration.”
Looking ahead to 2019, he said “We will continue to build on our global network of ports while leading the charge towards co-creating an internet of logistics – an ecosystem that is plug-and-play, that links up a mesh of communities through interoperability, and which allows us to innovate boldly.”