French transport firm CMA CGM has shaped three way partnership to function and use 4 megaship berths in Singapore as the corporate appears to increase its operations in Asia’s high transport hub following its takeover of Singapore’s Neptune Orient Lines.

The three way partnership was shaped with PSA Singapore Terminals and can begin operations within the second half of this yr on the newly expanded Pasir Panjang Terminal Phases 3 and 4.

CMA CGM says the JV will present long-term terminal providers to CMA CGM and its transport line associates, leveraging industry-leading port infrastructure on the Pasir Panjang enlargement, which has the capability and scale to service the world’s greatest ultra-large container vessels within the area.

CMA CGM is within the means of buying 100% of Neptune Orient Lines (NOL) for $2.4 billion in its biggest-ever deal. CMA CGM at the moment controls over 78% of the Singapore-listed firm, and has a money supply on the desk for all remaining shares. Once CMA CGM reaches 90% possession, the corporate will be capable to pressure the remaining shareholders to promote and it’ll delist NOL.

CMA CGM can be planning to maneuver its Asian headquarters to Singapore from Hong Kong and divert ships from Malaysia to the brand new terminal in Singapore.

“CMA CGM is pleased to announce this important partnership with PSA,” stated Rodolphe Saadé, Vice Chairman of 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.”

In April, CMA CGM introduced an Asia-focussed alliance with China COSCO Shipping, Taiwan’s Evergreen Line and Hong Kong-based Orient Overseas Container Line, referred to as the “Ocean Alliance”.

In Singapore, PSA operates a complete of 57 berths with a dealing with capability of 40 million TEUs per yr at its container terminals in Tanjong Pagar, Keppel, Brani and Pasir Panjang.