CMA CGM Group and PSA have launched the second phase of a joint container terminal CMA CGM - PSA Lion Terminal (CPLT) in the port of Singapore, as it follows from the message of the French company.
The CPLT terminal capacity now stands at 4 million TEU per year. The plans to establish a joint venture company were unveiled in July last year. A joint terminal at two quays of the port of Singapore with a capacity of 2 million TEU per year was put in operation in the second half of 2016 and has become a regional hub for operations of CMA CGM in Asia.
The port of Singapore is the second-largest container ports in the world with 30.9 million TEU at the year-end of 2016. Volumes growth in the second half of the year allowed the port to reduce the gap with the end of 2015 to a minimum, despite a strong drop in turnover in the first months of the year.