Alphaliner: CMA CGM, PSA Singapore to Join Forces

Image Courtesy: PSA International

French container shipping major CMA CGM and PSA Singapore Terminals are planning to establish a joint venture company to lease and operate four container berths in the port of Singapore, according to Alphaliner.

The joint venture would be owned in proportions of 49% and 51%, respectively.

With an estimated annual handling capacity of over 3 Mteu, the joint venture’s facilities will be used as a container terminal for CMA CGM and its liner shipping affiliates.

The move comes after the launch of an all-cash voluntary conditional general offer by CMA CGM for all outstanding shares of Neptune Orient Lines (NOL), parent company of the ocean carrier APL on 6 June.

The company subsequently satisfied the acceptance condition in the offer, and has now taken the controlling stake of 78.07 percent of all NOL shares from the company’s majority shareholders, led by Singapore’s investment fund Temasek.

The move to set up the terminal joint venture with CMA CGM is part of the Singapore Government’s plan to wrest back some of the transhipment volumes that have been lost to the competing Malaysian ports of Port Kelang and Tanjung Pelepas, Alphaliner said.

PSA’s share of the South East Asia (or ‘Straits’) container transhipment volume has fallen from 89% in the year 2000 to only 62% in 2015, while Singapore’s overall container throughput has fallen by -7.8% in the first four months of this year, following a -8.7% loss last year, whereas its key competitors gained ground.

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2017 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

CWC World LNG & Gas Series: Americas Summit

Now in its 15th year, the CWC World LNG & Gas Series: Americas Summit is the longest running LNG event in the Americas region.

Bringing together the key players in the LNG & gas value chain in both the Americas region and globally, this is the perfect place to make new contacts, do deals and get essential updates on the market.

This year we return to Houston, TX once again on 20-23 June 2017 – the heart of the energy industry, making it easier than ever to access they key players in your business.

More info

read more >

Nor-Shipping 2017

Nor-Shipping is the leading maritime event week. Their top-quality exhibition, high-level conferences and prime networking opportunities…

read more >

2ND ANNUAL PORTS AND TERMINALS INSURANCE SEMINAR

DETAILED GUIDANCE ON HOW THE INSURANCE MARKET IS CHANGING, HOW RISKS ARE ASSESSED AND WHAT…

read more >

2ND ANNUAL ADVANCED CHARTERING MASTERCLASS

The Advanced Chartering Masterclass will focus on the particularly difficult issues in charterparty agreements and our experts will help you find solutions…

read more >