Cosco Shipping Ports is taking another berth in Singapore. The third berth at joint venture Cosco-PSA Terminal will launch next year, featuring an automated yard, and will give the JV a total annual throughput of 3m teu.
Terminal operator PSA said the latest deal enables the two companies “to seize the opportunities of globalization and further strengthen the role of the Singapore Port as a global container transshipment hub, reinforcing the shipping links between China and countries in Southeast Asia”.
Cosco is a key member of the new Ocean Alliance, a container grouping that has selected Singapore over neighbouring Malaysia for its Southeast Asian hub operations.
