French container line CMA CGM and port operator company PSA plan to create new dedicated container terminal in Port of Singapore. The container terminal will be the cargo hub of the company in Southeast Asia. Under the terms of the proposal to purchase the shares NOL, published by the CMA CGM this week, the container line and PSA will establish joint venture with shares of 49% and 51% respectively, to operate the container terminal in the port of Singapore, which will serve containers and container ships CMA CGM and its structures. The new container terminal will be located in four berths, leased from the PSA. The capacity of container terminal will be 3 million TEU per year.
The establishment of joint venture is part from the proposal for acquisition of the shipping operator NOL. PSA is 100% owned by Temasek, which is the major shareholder of NOL. The proposal for joint-venture has been designated as part of the original proposal for the purchase of NOL last year.
Currently, the cargo hub of CMA CGM in Southeast Asia is Port Klang and the company provides about 20% from the port traffic.
CMA CGM is the third largest container shipping company in the world, using 170 shipping routes between 400 ports in 150 different countries. Its headquarters are in Marseille, and its North American headquarters are in Norfolk, Virginia, USA.