The Port of Singapore has played a pivot role in the cooperation between China and Singapore over the past few years.
The Port of Singapore lies along the southern Singapore island, with the Strait of Malacca on its west and Singapore Strait on its south. It is the world's second busiest port and the world's largest container transit hub or the busiest transshipment port.
With its advantage in geographical location, the Port of Singapore has become the inevitable voyaging point along the shipping route for Asian goods to travel to Europe.
"It (the Port of Singapore) has always been a world shipping center for Singapore. Its position as a hub has been strengthened after the Belt and Road initiative was proposed," said Yang Jian, general manager of the COSCO (China Ocean Shipping Group Company)-PSA (Port of Singapore Authority) Terminal Private Limited (CPT).
In 2003, the China COSCO Shipping Corporation and PSA International set up the joint venture COSCO-PSA Terminal. After more than a decade of development, especially over the five years after the proposal of Belt and Road initiative, the cargo throughput capacity at the COSCO-PSA Terminal has registered a double-digit increase.
"Singapore's container terminal has a relatively high efficiency. It needs a great amount of containers and volumes of business to back up itself in a bid to fully exert its profitability and efficiency. And in turn, we need a large container terminal to sustain the need of our ship route," said Gu Jingsong, president of the COSCO SHIPPING International (Singapore) Co., Ltd.
It was just on Monday that China's super container vessel Netherlands of COSCO arrived at the Port of Singapore, marking the first foreigner port on its route along the Maritime Silk Road.
Sources:cctvplus
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