CMA CGM to acquire flagship terminals in the Port of New York and New Jersey
MARSEILLE, France, Dec. 6, 2022 /PRNewswire/ -- The CMA CGM Group, a global player in sea, land, air and logistics solutions, has signed a binding agreement to acquire GCT Bayonne and New York terminals, currently held by Global Container Terminals Inc (GCT).
Two major East Coast terminals in one of the world's largest economic regions
While Bayonne terminal has the highest level of automation, the fastest truck turn time in the harbor, the closest ocean access, and an ability to service vessels of up to 18,000 TEUs, New York Terminal benefits from a highly productive labor force in the Port of New York and New Jersey and connects the dense New York hinterland with direct trucking and intermodal access.
A strategic investment supporting CMA CGM's ambitions for the U.S. market
CMA CGM intends to further develop its shipping line calls in the New York area for which the terminals will provide future capacity. The Group will significantly accelerate investments in the development of the Bayonne and New York terminals, with an objective to increase the combined apacity by up to 80 % in the coming years. This major acquisition will make it possible for CMA CGM Group to support U.S. East Coast supply chain growth and improve efficiency to and from the world.
Strengthening the Group's position as a global port terminal operator
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.
CMA CGM Group, a leading supply chain operator in the U.S. providing end-to-end services further expands its commitment to the U.S. economy
Over the past 12 months, the CMA CGM Group has significantly increased its presence in the U.S.:
GCT Terminals will complement CMA CGM's capabilities, including:
CMA CGM began its operations in the country in the late 80's and opened its U.S. headquarters in Norfolk in 2005. The Group currently employs more than 15,000 people in the U.S.
The closing of this transaction remains subject to the approval of the competent regulatory authorities.
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said: "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."
About CMA CGM
Led by Rodolphe Saadé, the CMA CGM Group, a global player in sea, land, air and logistics solutions, serves more than 420 ports around the world across 5 continents, with a fleet of 584 vessels. The Group transported 22 million TEU containers (twenty-foot equivalent units) in 2021. With its subsidiary CEVA Logistics, a global logistics player which transported 474,000 tons of air cargo and more than 21 million tons of inland freight, and its air cargo division CMA CGM AIR CARGO, the CMA CGM Group is constantly innovating to provide customers a comprehensive and increasingly efficient offering, thanks to new shipping, inland, air freight and logistics solutions.
Firmly committed to the energy transition in shipping and a pioneer in its use of alternative fuels, the CMA CGM Group has set a Net Zero-Carbon target for 2050.
Each year, via the CMA CGM Foundation, the Group supports thousands of children as part of its efforts to promote education for all and equal opportunities. The CMA CGM Foundation also intervenes in humanitarian crises requiring an emergency response by calling on the Group's shipping and logistics expertise to deliver humanitarian supplies around the world.
Present in 160 countries through its network of more than 400 offices and 750 warehouses, the Group employs 150,000 people worldwide, around 4,000 in Marseille where its head office is located.
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SOURCE CMA CGM
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