CMA CGM Group has completed the acquisition of Global Container Terminals (GCT) Bayonne and New York terminals, aiming to strengthen its position as a global port terminal operator.
The French shipping company is now the shareholder of GCT Bayonne and New York terminals, finalising the agreement announced on 7 December 2022.
Port GCT Bayonne and Port GCT New York will expand CMA CGM’s portfolio of terminals in the United States to seven, complementing on the US East Coast the Group’s acquisition of the Fenix Marine Services container terminal in the Port of Los Angeles on the US West Coast.
CMA CGM Terminal arm will operate the two multi-user facilities under its current management team aiming, at the same time, to further develop the two container terminals.
CMA CGM’s development plan includes:
- Continued development of Bayonne’s Berth 3, which when completed, will be one of the most capable berths on the US East Coast
- Investments to create additional yard and berth capacity allowing improved operational fluidity at Bayonne and New York.
- Improved direct access to major highways and railways to and from the terminal facilities.
- Reduction in emissions and greenhouse gases with a goal of becoming Net Zero by 2050.
The Marseille-based company, through its investments, will target to increase terminals’ capacity by more than 50% during the next 10 years.