$3.5 Billion Container Terminal opened in Singapore

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The Singapore Prime Minister inaugurated the PSA Singapore’s Pasir Panjang Terminal Phases 3 and 4 on 23rd June 2015.

This mega project is futuristically designed to handle the next generation mega container ships.  This expansion project is expected to be operational by the end of 2017.  Once in-force, it will have a capacity to handle around 50 million Twenty-foot containers annually.

This world class terminal will house all the latest port innovations such as zero-emission, fully automated electric yard crane systems.  All the new berths at the Terminal are designed to be able to handle container ships with capacities larger than 10,000 TEUs.  Although the present day container shipping capacity has outpaced demand, shipowners favour mega-ships in order to cut down on fuel costs as freight rates remain under pressure.

Fock Siew Wah, group chairman of PSA International is quoted to have said “This project also reflects our philosophy – to always scan the horizon, discern the trends, plan and invest ahead of time”.  PSA operates the world’s largest container transhipment hub in Singapore.  It links shippers to an excellent network of major shipping lines with connections to 600 ports globally.  Shippers have access to daily sailings to every major port in the world at this mega hub.  PSA Singapore Terminals handled 33.55 million TEUs of containers in 2014.

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