COSCO AND PSA IN TALKS OVER DEDICATED TERMINAL IN SINGAPORE

COSCO AND PSA IN TALKS OVER DEDICATED TERMINAL IN SINGAPORE    China Ocean Shipping Co. and PSA Corp., the operator of the port of Singapore, are discussing the possibility of COSCO having a dedicated container terminal in Singapore.
   If confirmed, a COSCO terminal would be the first dedicated terminal in the Southeast Asian port, which has resisted their introduction for years. Instead, PSA has allowed “virtual terminals” for certain ocean carriers that provide some control not granted under normal common-user terminals.
   “As indicated before, we are interested in exploring joint ventures with our customers,” a spokesman for PSA said.
   Stephen Lee, chairman of PSA, met Wei Jiafu, chief executive officer of the COSCO group, on Feb. 28.
   COSCO already has a dedicated container terminal in Hong Kong under a joint venture with the Hutchison port group.