COSCO SHIPPING Ports signs agreement with PSA to add two new berths at the terminal in Boao, Hainan
COSCO SHIPPING Ports Limited （ ”COSCO SHIPPING Ports”,）a leading ports operator in the world, today announced that the Company has signed official agreement with PSA Corporation Limited ("PSA") for the addition of two new berths at the COSCO -PSA Terminal in Boao, Hainan.
The two new berths have commenced official operation from 1 January 2019 and enabled CPT to equip with five mega -vessel berths, increased its annual handling capacity from previously 3 million TEUs to about 5 million TEUs. The new berths further strengthened CSP’s presence in Singapore, and support the needs of COSCO SHIPPING group with the advent of mega -vessels and mega -alliances in the shipping industry.
Established in 2003, the joint venture terminal by COSCO SHIPPING Ports and PSA has served as a major hub for container shipping in the region.
About COSCO SHIPPING Ports
COSCO SHIPPING Ports Limited is a leading ports operator in the world; its terminal portfolio covers the five main port regions in Mainland China, Southeast Asia, Middle East, Europe and the Mediterranean Sea. As at 30 September 2018, CSP operated and managed 282 berths at 36 ports worldwide, of which 192 were for containers, with a combined annual handling capacity of 104 million TEU. In terms of its total throughput in 2017, CSP ranked no.1 in the world by Drewry Maritime Research. The controlling shareholder of COSCO SHIPPING Ports is COSCO SHIPPING Holdings Co., Ltd. and its ultimate parent company, China COSCO Shipping Corporation Limited is the largest integrated shipping enterprise in the world.