CMA CGM and PSA Singapore Terminals will form CMA CGM-PSA Lion Terminal Pte. Ltd., a joint venture to operate four mega container berths at phases 3 and 4 of Singapore’s Pasir Panjang Terminal.

“CMA CGM is pleased to announce this important partnership with PSA,” said Rodolphe Saadé, vice chairman of the CMA CGM Group. “It is a significant step, demonstrating the ongoing importance of Singapore to our strategy, and delivering on our commitment to making Singapore the Asian hub for the group.”

The joint venture will begin operations from the second half of 2016, and will provide long-term terminal services to CMA CGM and its affiliates.

“We are honoured to embark on this win-win partnership,” said Tan Chong Meng, group CEO of PSA International. “CMA CGM-PSA Lion Terminal will cater to the volume growth of the CMA CGM Group in Asia. PSA looks forward to working alongside CMA CGM to ensure that its hub operations flourish, and enhance Singapore’s premier status as the world’s busiest transhipment hub.”