Maersk Sealand has purchased a 30% stake in the terminal, reported to have cost US$165 million, giving the company its own dedicated terminal there a facility which it was denied in Singapore.

The PSA remains tight-lipped about the impact of the loss of 10% of its overall throughput to PTP.

The PSA remains tight-lipped about the impact of the loss of 10% of its overall throughput to PTP.

The development of PTP will give Singapore shippers an additional option in the area.

Although Maersk Sealand will move most main line and feeder services to the port by the end of the year, a regular shuttle service will still connect the facility to Singapore. PTP management called the deal: 'a dramatic move that changes the face of the entire transhipment business in South-east Asia'.

The fledgling port will have to move quickly to keep pace with demand. Phase One of the development includes the completion of six new berths in mid 2001. Maersk Sealand alone will provide a minimum of one million TEU. PTP is also in discussion with other unnamed shipping lines to further expand its customer base.