CMA CGM and PSA to create a container terminal joint venture in Singapore
CMA CGM S.A. (CMA CGM) and PSA Singapore Terminals Pte. Ltd. (PSA) will form a joint venture company CMA CGM - PSA Lion Terminal Pte. Ltd. (CPLT) to operate and use four mega container berths at Pasir Panjang Terminal Phases 3 and 4 in Singapore, the company said in its press release.
CPLT will start operations from the second half of 2016, and allow CMA CGM and its shipping line affiliates to leverage industry - leading port infrastructure and technologies at this latest Pasir Panjang expansion, which has the capacity and scale of operations to better serve mega vessels in the region .
CPLT will provide long - term terminal services to CMA CGM and its shipping line affiliates hence securing best - in - class services for its fleet.
About CMA CGM
CMA CGM, founded and led by Jacques R. Saadé is a leading worldwide shipping group. Its 536 vessels cal l more than 420 ports in the world, on all 5 continents. In 2015, they carried 18 million** TEUs (twenty - foot equivalent units). CMA CGM has grown continuously, and has been constantly innovating to offer its clients new sea, land and logistics solutions. With a presence in 160 countries, through its 600 agencies network, the Group employs 29,000* people worldwide, including 2,400* in its headquarter in Marseilles.