Syria’s General Authority for Land and Sea Ports announced on Wednesday that it has reached a new agreement with French shipping and logistics company CMA CGM for the operation of the container terminal at Latakia port.
The contract includes revised terms and mechanisms and settles all outstanding dues between both parties, though specific details were not disclosed.
Key Negotiation Points
A Syrian source familiar with the negotiations told Reuters that discussions focused on:
Revising revenue distribution in favor of Syrian authorities
Shortening the lease period compared to the previous contract
Implementing technical improvements, including a new ship deck
Background and Contract Renewal
Latakia port is Syria’s main maritime gateway.
CMA CGM has managed the terminal since 2009, with multiple contract renewals.
The latest renewal, in October 2024, extended the contract for 30 years under Bashar al-Assad’s administration.
However, following Assad’s ouster on December 8, 2024, Syria’s new transitional government renegotiated the terms.
CMA CGM, controlled by Franco-Lebanese billionaire Rodolphe Saadé and his family, has deep roots in Syria but has yet to comment on the agreement.
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Source: Reuters
