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CMA CGM completes acquisition of LA container terminal

CMA CGM has completed its acquisition of the Fenix Marine Services (FMS) terminal in Los Angeles.

Michele Labrut, Americas Correspondent

January 6, 2022

1 Min Read
CMA CGM and APL vessels at berth
Photo: CMA CGM

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.

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CMA CGM

About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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