COSCO Shipping Ports (CSP) has signed an official agreement with PSA to build two new berths at the Cosco-PSA Terminal (CPT) on China's Hainan island, to be able to handle larger mega ships and turn the port into a trade and shipping hub.
According to a statement, the two new berths commenced operations at the beginning of the new year and have raised CPT's capacity from three million TEU to five million TEU, reported Port Technology, London.
The agreement follows on from a deal struck earlier this month, which saw Cosco Shipping unveil the International Land-Sea Trade Corridor (ILSTC) that connects western China and Hainan island to Singapore and surrounding shipping lanes.
WORLD SHIPPING
According to a statement, the two new berths commenced operations at the beginning of the new year and have raised CPT's capacity from three million TEU to five million TEU, reported Port Technology, London.
The agreement follows on from a deal struck earlier this month, which saw Cosco Shipping unveil the International Land-Sea Trade Corridor (ILSTC) that connects western China and Hainan island to Singapore and surrounding shipping lanes.
WORLD SHIPPING
