CMA CGM completes acquisition of GCT Bayonne, New York terminals
Acquisition expands CMA CGM’s U.S. East Coast footprint, strengthening Group’s position as global terminal operator
The CMA CGM Group, a global player in sea, land, air and logistics solutions, has finalised its acquisition of Global Container Terminals (GCT) Bayonne and New York terminals.
The deal was announced on December 7, 2022, says an official release. "Through this strategic investment, the Group strengthens its position as a global port terminal operator, and a leading supply chain player in the United States providing end to end solutions to customers worldwide."
Port GCT Bayonne and Port GCT New York expand CMA CGM’s portfolio of terminals in the U.S. to seven, ideally complementing the U.S. East Coast the Group’s acquisition of the Fenix Marine Services container terminal in the Port of Los Angeles on the U.S. West Coast.
"These two new assets provide the Group with flagship terminal operations at a critical entry point on the U.S. East Coast. This acquisition will strengthen the East Coast’s role in securing the U.S. supply chain and improve network resiliency."
While CMA CGM Terminal arm will operate the two multi-user facilities under its current management team, CMA CGM’s development plan includes:
*Continued development of Bayonne’s Berth 3, which when completed, will be one of the most capable berths on the U.S. East Coast at a depth of 55 feet with 18,000 TEU vessel handling capability.
*Investments to create additional yard and berth capacity allowing improved operational fluidity at Bayonne and New York.
*Improved direct access to major highways and railways to and from the terminal facilities; and
*Reduction in emissions and greenhouse gases with a goal of becoming Net Zero by 2050.
CMA CGM, through its investments, will target to increase terminals’ capacity by more than 50 percent during the next 10 years, the release added.