CMA CGM to acquire terminals in Port of New York & New Jersey
Acquisition completes CMA CGM's portfolio of 7 terminals in the U.S.
The CMA CGM Group has signed a binding agreement to acquire GCT Bayonne and New York terminals, currently held by Global Container Terminals (GCT).
The Port of New York and New Jersey is a key entry point serving the Northeastern U.S. supply chain areas and represents CMA CGM's largest gateway on the U.S. East and Gulf Coasts, says an official release. "The Bayonne and New York terminals, with an existing combined capacity of 2 million TEUs per year, have a potential for further expansion, up to almost double capacity."
While the Bayonne terminal has the highest level of automation, the fastest truck turn time in the harbour, the closest ocean access and an ability to service vessels of up to 18,000 TEUs, the New York Terminal benefits from a highly productive labour force in the Port of New York and New Jersey, and connects the dense New York hinterland with direct trucking and intermodal access, the release added.
"After closing, the CMA CGM Group will operate the two strategic facilities as multi-user terminals under the leadership of the current management team and will continue focusing on improving its service quality to satisfy U.S. customers' expectations."
The group currently has investments in 52 port terminals in 28 countries, through CMA Terminals and its Terminal Link joint venture, the release added.
"The acquisition of GCT Bayonne and GCT New York terminals is a strategic investment for the CMA CGM Group," says Rodolphe Saadé, Chairman and CEO, CMA CGM Group. "It reinforces the services we provide to U.S. customers and their supply chain efficiency. It further consolidates our positions in the United States, a major market among the fastest-growing worldwide, and will help us continue our development."
Over the past 12 months, the group has significantly increased its presence in the U.S with the acquisition of Fenix Marine Services terminal in the Port of Los Angeles in January 2022, and the acquisition of Ingram Micro's Commerce & Lifecycle Services business specialising in e-commerce contract logistics and omni-channel fulfilment in April 2022.
GCT terminals will complement CMA CGM's capabilities including:
*24 shipping lines
*A fleet of 9 U.S. flagged vessels operated under the American President Lines (APL) Lines brand, a trusted partner to the U.S. government for ocean transportation and in-country logistics for over a century.
*A portfolio of five terminal assets consisting of FMS (100 percent) and PMS (10 percent) in the Los Angeles area, Dutch Harbor (100 percent) in Alaska, Bayport (26 percent) in Houston and SFCT (26 percent) in Miami, and
*CEVA Logistics, a world leader in third party logistics.
The group currently employs more than 15,000 people in the U.S, the release said.