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CMA CGM completes acquisition of LA container terminal

Photo: CMA CGM CMA CGM and APL vessels at berth
CMA CGM has completed its acquisition of the Fenix Marine Services (FMS) terminal in Los Angeles.

CMA CGM said in a statement, that it has acquired EQT Infrastructure III’s 90% interest in the terminal and with the 10% stake already owned by the Group it is now sole owner of the FMS facility.

The deal announced in November is worth some $2.3bn.

FMS is the third largest terminal in the Los Angeles/Long Beach port area in terms of capacity, which is around 2.5m teu and it is also one of the largest in the US. 

CMA CGM has indicated that its first LNG-fuelled 15,000-teu containerships will call at the facility “from early 2022”.

To increase capacity and improve services, CMA CGM will invest in increasing container yard, expand the terminal rail capacity to create one of the largest rail infrastructures in the United States and construct a new berth.