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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