PSA COSCO

 
PSA Int'l also gov't owned, and has US port operations

PSA, Cosco Pacific, AP Moller in Dalian port project

P&O sale threatens foreign monopoly over UK ports:Singapore-China alliance stands to gain 90% control

Ambassador Zhang Welcome "COSCO-Singapore" at its Maiden Voyage Ceremony -- 2004/10/18

"The Chinese Government and people attach great importance to the friendly cooperation with Singapore and are fully confident of its prospect. Our bilateral relations will step onto a new level, so will the partnership between COSCO and PSA".

Cosco bucks the trend

Unlike other lines, Cosco does not appear tempted to move from the PSA to neighbouring Tanjong Pelepas. Last October it signed a 10-year Virtual Terminal Agreement with the PSA, giving the line priority berthing and long-term price stability based on agreed volumes. Last year Cosco moved some 250,000 TEUs through the PSA with its 20 weekly calls.

Ji confirmed that there are close ties between Cosco and the Singapore government, though he would not rule out anything that might happen in the future.

"We have agreed rate schedules and PSA are our partners," he said. "Cosco is very satisfied with their performance. We have to consider all factors when choosing a terminal, including networks, as we have to consider the interests of shippers and consignees as well. At the present time we have no intention to move business to any other terminals."