Sign up to the Port Tech Daily News for free to keep up to date with the latest industry news

CMA CGM reflects on 2021


CMA CGM Group has reflected on its 2021 in the new posting of a video of the carrier’s progress throughout the year.

In January, CMA CGM announced it will operate and manage Pier 55 at multi-purpose terminal at the Port of Alexandria.

The terminal, which covers an area of 560,000 square meters with quays of over 2km in length, will have a capacity of around 1.5 million TEU and will facilitate the deployment of the carrier’s larger vessels. Operations are planned to start in 2022.

On the water, in May CMA CGM’s mammoth Marco Polo boxship transported cargo along the US, setting TEU records in ports in New York and Canada.

In recent news, the French firm achieved a $5.6 billion profit for the third quarter of 2021, up from $567 million in the same period the previous year. During the third quarter of 2021, the group transported 5.5 million TEU.

On logistics investments, in November the company signed an agreement to acquire a further 90% stake in Fenix Marine Services’ (FMS) terminal in the Port of Los Angeles, based on an enterprise value of $2.3 billion.  

In early December, the group’s logistics subsidiary CEVA Logistics signed a $3 billion deal to acquire most of Ingram Micro’s Commerce & Lifecycle Services.

© CMA CGM via YouTube

Want to stay up to date with the latest industry news? Sign up to the Port Tech Daily News and receive stories like this directly to your inbox for free.

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.