The Marseille-based CMA CGM Group, a global player in shipping and logistics, has finalized its acquisition of Global Container Terminals (GCT) Bayonne and New York terminals.
CMA CGM said yesterday that the acquisition expands CMA CGM’s U.S. East Coast footprint, and strengthens the group’s position as a global terminal operator.
Now the company´s portfolio of terminals in the U.S. is expanding to seven, ideally complementing on the US east coast the Group’s acquisition of the Fenix Marine Services container terminal in the Port of Los Angeles on the US West Coast.
The CMA CGM terminal arm will operate the two multi-user facilities under its current management team, whilst the group intends to further develop the two terminals which are key to the strategic New York/New Jersey gateway, the largest on the U.S. East Coast.
CMA CGM offered some details on how it plans to expand the two key container terminals on the US East Coast.
The French group has an ambitious development plan, as it says, which includes the 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 in order to create additional yard and berth capacity allowing improved operational fluidity at Bayonne and New York, and an improved direct access to major highways and railways to and from the terminal facilities.
Furthermore, the plan includes 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% during the next 10 years. The development plan will add approximately 240 direct jobs and more than 700 construction jobs over the next seven years, providing a pathway to further benefit job growth in the New York/New Jersey region,” the Marseille-based group added.
