CMA CGM rubberstamps GCT Bayonne, New York terminals purchase

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CMA CGM rubberstamps GCT Bayonne, New York terminals purchase

The CMA CGM Group has successfully completed its acquisition of Global Container Terminals (GCT) Bayonne and New York terminals.

The purchase was first announced in December of last year.

The acquisition of Port GCT Bayonne and Port GCT New York adds to CMA CGM’s growing portfolio of terminals in the US, bringing the total to seven.

This expansion also complements the Group’s earlier acquisition of the Fenix Marine Services container terminal in the Port of Los Angeles on the West Coast.

READ: Port of New York and New Jersey beats pre-pandemic volumes

This move is expected to enhance the East Coast’s contribution to ensuring the resilience and fluidity of the US supply chain.

As part of its commitment to supporting growth and development, CMA CGM plans to invest significantly in enhancing the infrastructure at these terminals.

The Group will continue to operate the two multi-user facilities with their existing management teams. The development plan comprises several key initiatives, including the ongoing development of Berth 3 at Bayonne to reach a vessel handling capability of 18,000 TEU.

Overall, the development plan is expected to boost terminal capacity by over 50 per cent in the next decade.

Furthermore, it is expected to create approximately 240 direct jobs and generate more than 700 construction jobs over the next seven years, contributing to job growth in the New York/New Jersey region.

CMA CGM just announced that it will apply a new Port Congestion Surcharge (PCS) following the congestion currently occurring in Dakar, Senegal.

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