CMA CGM completes deal to take over container terminals in New York and New Jersey
Maritime logistics powerhouse CMA CGM Group on Thursday accomplished its deliberate acquisition of container terminals in New York and New Jersey operated by World Container Terminals Inc. (GCT), saying the transfer expands its East Coast footprint, and offers the wanted capability to help the fluidity of U.S. provide chains.
Initially introduced in 2022, the transfer to take over Port GCT Bayonne and Port GCT New York grows CMA CGM’s portfolio of terminals within the U.S. to seven. The French firm says the deal additionally offers an East Coast complement to its 2021 acquisition of the Fenix Marine Companies container terminal within the Port of Los Angeles on the U.S. West Coast.
CMA CGM additionally stated it plans to additional develop the 2 jap terminals and enhance their capability by greater than 50% in the course of the subsequent 10 years via 4 steps:
- continued growth of Bayonne’s Berth 3, which when accomplished, might be probably the most succesful berths on the U.S. East Coast at a depth of 55 toes with 18,000 TEU vessel dealing with functionality,
- investments to create further yard and berth capability permitting improved operational fluidity at Bayonne and New York,
- improved direct entry to main highways and railways to and from the terminal amenities, and
- discount in emissions and greenhouse gases with a purpose of changing into Internet Zero by 2050.
Neither the phrases of the acquisition nor the event have been disclosed.
