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Singapore joins forces with CMA CGM to regain lost market shares

Following the acquisition of container carrier NOL, CMA CGM is now joining forces with harbor and terminal company PSA Singapore in a joint venture in the Port of Singapore. It's just one part of the government's plan is to recover lost volumes.

Photo: PR-foto/CMA CGM

French carrier CMA CGM has joined forces with PSA Singapore Terminals to create a new joint venture, which will lease and operate four container berths in the port of Singapore, reports Alphaliner.

CMA CGM will own 49 percent of the new company, while the remaining 51 percent will be owned by PSA. The move comes shortly after the final approval of CMA CGM's acquisition of Singapore-based shipping company NOL from its parent company APL.

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