The CMA CGM Group has signed a binding agreement to acquire GCT Bayonne and New York terminals, currently held by Global Container Terminals Inc (GCT), says an article published on their website.
World’s largest economic regions
The Port of New York and New Jersey is a key entry point serving the Northeastern U.S. supply chain areas and represents CMA CGM’s largest gateway on the U.S. East and Gulf Coasts.
The Bayonne and New York terminals, with an existing combined capacity of 2 million TEUs per year, have a potential for further expansion, up to almost double capacity.
Closest ocean access
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
After closing, the CMA CGM Group will operate the two strategic facilities as multi-user terminals under the leadership of the current management team and will continue focusing on improving its service quality to satisfy U.S. customers’ expectations. Investment in the infrastructure will be undertaken to meet both CMA CGM and local communities’ environment protection targets.
Future capacity
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 capacity by up to 80 % in the coming years.
Improve efficiency
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
This major investment is consistent with CMA CGM Group’s strategy of developing its terminal business while supporting the growth and efficiency of its shipping lines and guaranteeing service quality for its clients.
Joint venture
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.
Commitment to the U.S. economy
The CMA CGM Group has a long commitment to the U.S. economy and a strong presence through its port terminals portfolio and operational relationships with U.S. customers, including the U.S. government.
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Source: CMA CGM
