CMA CGM to invest $600mn in US terminals
CMA CGM renames GCT Bayonne and New York terminals as Port Liberty New York and Port Liberty Bayonne
Rodolphe Saade, Chairman and CEO, CMA CGM officially renamed the acquired GCT Bayonne and New York terminals as Port Liberty New York and Port Liberty Bayonne.
Saade also announced an investment of $600 million for the two facilities to incorporate the latest technologies.
"This will create 1,000 union jobs and increase their capacity by up to 80 percent as CMA CGM has a long commitment to the U.S. economy," the company said in its LinkedIn post.
Port Liberty New York and Port Liberty Bayonne on the East Coast, together with FMS on the West Coast, now rank as CMA CGM's flagship terminals in North America, the update added.
The CMA CGM Group had announced the closure of the deal to acquire GCT Bayonne and New York terminals last month after signing the deal in December 2022.
CMA CGM moves
CMA CGM recently signed a non-binding letter of intent with Renault & Volvo to join a new company and invest €120 million through PULSE, its energy fund to address the growing needs of decarbonised and efficient logistics. "An all-new family of fully electric and software defined vehicles will be introduced by the new company. The production is planned to start in 2026."
Maersk and CMA CGM have decided to join forces on several areas relating to decarbonisation in full compliance with all laws and regulations. As frontrunners of the energy transition in shipping, both companies are convinced that joint action will help accelerate the green transition in shipping, learning from each other to go further and faster.