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CMA CGM takes stakes in two Cosco terminals in Spain

Photo: CMA CGM cma-cgm-centaurus-i CSP Iberian Valencia[65].jpg
CMA CGM has boosted its foothold in Spain with stakes in two Cosco-operated terminals by acquiring 49% of Cosco Shipping Ports (CSP) Valencia and 38% of CSP Bilbao from TPIH Iberia for an undisclosed sum.

CSP Bilbao links Spain with the main ports of northern Europe and has a capacity of 950,000 teu, a surface of over 43 hectares, over 1,150 metres of quay, a depth of 21 metres, seven ship-to-shore container cranes,

CSP Valencia handles around 3.5m teu and is one of Spain’s largest container terminals and the main gateway to Madrid. The terminal has a surface of 145 hectares, over 2,300 metres of quay, a depth of 15.5 metres and extensive equipment including 21 ship-to-shore container cranes, and 65 rubber-tired gantry cranes.

The acquisition is subject to all required regulatory approvals being obtained.

The CMA CGM Group operates 35 direct maritime services serving 18 ports of call in Spain. The group owns equity stakes in more than 56 port terminals and projects around the world.