Alphaliner: CMA CGM, PSA Singapore to Join Forces

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>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 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 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >