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CMA CGM acquiring New York and New Jersey terminals

Photo: CMA CGM CMA CGM--ACQUIRES TWO TERMINALS IN NEW YORK NEW JERSEY.[100].jpg
The CMA CGM Group is acquiring GCT Bayonne and New York terminals from Global Container Terminals Inc (GCT).

The two major East Coast terminals are a key entry point serving the North-eastern US supply chain areas and represents CMA CGM’s largest gateway on the US East and Gulf Coasts. The Bayonne and New York terminals, with an existing combined capacity of 2m teu have a potential for further expansion, up to almost double capacity, said CMA CGM.

"The acquisition of GCT Bayonne and GCT New York terminals is a strategic investment for the 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," said Rodolphe Saadé, Chairman and CEO of the CMA CGM Group.

CMA CGM intends to further develop its shipping line calls in the New York area for which the terminals will provide future capacity. The company said it would significantly accelerate investments in the development of the Bayonne and New York terminals, with an objective to increase the combined capacity by up to 80 % in the coming years.

With this acquisition, CMA CGM is bolstering its position as a leading global port terminal operator. Currently, the Group has investments in 52 port terminals in 28 countries, through CMA Terminals and its Terminal Link joint venture.

Over the past 12 months, the CMA CGM Group has significantly increased its presence in the US with the acquisition of Fenix Marine Services terminal in the Port of Los Angeles in January 2022, acquisition of Ingram Micro’s Commerce & Lifecycle Services business specialising in eCommerce contract logistics and omni-channel fulfillment, in April 2022.

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