2019/01/22 08:41:36 | Code: 181323 |

ONE to operate four mega container berths at Port of Singapore

PSA Singapore has signed an agreement with the Japanese ocean carrier Ocean Network Express (ONE) during December. According to the agreement, ONE will operate four mega container berths in Singapore, cementing Singapore as a global maritime power.

TINNews |

PSA Singapore has signed an agreement with the Japanese ocean carrier Ocean Network Express (ONE) during December. According to the agreement, ONE will operate four mega container berths in Singapore, cementing Singapore as a global maritime power.

With this deal, Singapore has now drawn the world’s three major container shipping alliances. These alliances account for over three quarters of the world’s container trade, local media reported.

The joint venture is planned to start operations in the first half of 2020, when industry regulators give their permission. The venture will be handling four million standard-sized containers per year.

The Port of Singapore earlier announced that it maintained a stable performance in 2018, with container throughput growing by 8.7% and reaching 36.6 million twenty-foot equivalent units (TEUs).

Regarding the annual vessel arrival tonnage, it reached 2.79 billion gross tonnes (GT) in 2018, same to the 2.8 billion GT achieved in 2017.

Singapore maintained its position as the world's top bunkering port in 2018 as well. It reported an annual bunker sales volume close to the 50 million-tonne mark for the second year in a row.

Moreover, before the deal with ONE, Cosco Shipping Ports initiated two new berths at its own joint venture container terminal with PSA. This increased its total capacity from 3 million TEUs to 5 million TEUs.

The new berths will be supported by automated yard technology, aiming to improve productivity, as well as service quality.