- The CMA CGM Group signed an agreement to acquire GCT Bayonne and New York terminals
- The CMA CGM Group will operate the two strategic facilities as multi-user terminals under the leadership of the current management team
- Acquisition completes the Group’s portfolio of 7 terminals in the U.S.
The CMA CGM Group is acquiring terminals in the Port of New York and New Jersey — the GCT Bayonne and New York terminals, currently held by Global Container Terminals Inc (GCT), CMA CGM said in a statement.
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said the acquisition “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.”
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.
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.
The closing of the transaction is subject to the approval of the competent regulatory authorities. After closing, the CMA CGM Group will operate the two facilities as multi-user terminals under the leadership of the current management team.
Investment in the infrastructure will be undertaken to meet both CMA CGM and local communities’ environment protection targets.
CMA CGM said it intends to further develop its shipping line calls in the New York area for which the terminals will provide future capacity. The Group added it 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. The 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, the company said.
Currently, the Group has investments in 52 port terminals in 28 countries, through CMA Terminals and its Terminal Link joint venture.
Over the past 12 months, the CMA CGM Group has significantly increased its presence in the U.S.:
- acquisition of Fenix Marine Services terminal in the Port of Los Angeles in January 2022,
- acquisition of Ingram Micro’s Commerce & Lifecycle Services business specializing in eCommerce contract logistics and omni-channel fulfillment, in April 2022.
GCT Terminals will complement CMA CGM’s capabilities, including:
- 24 shipping lines
- A fleet of 9 U.S. flagged vessels operated under the American President Lines (APL) Lines brand, a partner to the US government for ocean transportation and in country logistics for over a century
- A portfolio of 5 terminal assets consisting of FMS (100%) and PMS (10%) in the Los Angeles area, Dutch Harbor (100%) in Alaska, Bayport (26%) in Houston and SFCT (26%) in Miami
- CEVA Logistics, a world leader in third-party logistics
CMA CGM began its operations in the country in the late ’80s and opened its U.S. headquarters in Norfolk in 2005. The Group currently employs more than 15,000 people in the U.S.
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