- CMA CGM has announced a substantial $20 billion investment in the United States over the next four years.
- The investment aims to revitalize the American maritime sector and bolster its presence in the country.
French shipping giant CMA CGM has announced a $20 billion investment in the United States over the next four years, aiming to enhance shipping logistics and terminal operations, reports Reuters.
Investment Details and Job Creation
The investment plan includes:
- Port Expansion: Enhancing container ports to improve capacity and efficiency.
- Air Cargo Hub: Establishing a new air cargo hub in Chicago, supported by five new Boeing 777 freighters operated by American pilots.
This initiative is expected to create approximately 10,000 new jobs in the United States.
Expansion of U.S.-Flagged Fleet
CMA CGM plans to increase the number of its vessels flying the U.S. flag from 10 to 30, aligning with efforts to bolster the domestic shipping industry.
Collaboration with U.S. Shipyards
The company is in discussions with American shipyards to construct medium-sized container vessels, each capable of carrying approximately 6,000 containers. This move aims to diversify CMA CGM’s fleet and strengthen partnerships with U.S. shipbuilders.
Government Initiatives and Industry Response
The Trump administration is preparing to introduce a program to revitalize U.S. shipbuilding, potentially imposing levies on ships linked to China when they call at U.S. ports. While this aims to encourage domestic ship production, industry leaders express concerns about increased costs and potential disruptions to supply chains.
CMA CGM’s significant investment underscores the company’s commitment to the U.S. market and supports national efforts to rejuvenate the maritime industry. As the largest cargo carrier for Walmart in the U.S., CMA CGM’s expansion is poised to enhance the efficiency and capacity of American shipping and logistics infrastructure.
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Source: Reuters
