French shipping giant, CMA CGM, has unveiled its plans for significant investments and improvements in the United States. The company recently acquired two terminals from Global Container Terminals (GCT) in December 2022, and these terminals are set to undergo a substantial $600 million upgrade. The terminals are officially named “Port Liberty New York” and “Port Liberty Bayonne”, according to sources.
The key features of this substantial investment include the integration of cutting-edge technology at these facilities and a notable increase in capacity. According to CMA CGM, after the investment, Port Liberty’s combined capacity will experience an impressive 80% boost. This expansion will accommodate larger and more energy-efficient vessels.
Additionally, CMA CGM is collaborating with the State of New York and the State of New Jersey to enhance the infrastructure surrounding these multi-user terminals. The goal is to provide more direct access to freight rail lines and major highways. This effort aligns with Port Liberty’s decarbonization strategy by reducing the number of trucks needed for shipping and transportation.
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, emphasized the significance of these developments. He stated, “The acquisition of these two terminals is a reflection of our ongoing commitment to the US market in building more resilient and more sustainable supply chains. It is a major step forward in our strategy of developing and modernizing infrastructures here and around the world.”
Furthermore, he highlighted the strategic importance of the East Coast terminals, Port Liberty New York and Port Liberty Bayonne, along with the West Coast’s FMS terminal. They will serve as CMA CGM’s flagship terminals in North America, improving their service offerings to customers.
This substantial investment in the terminals solidifies CMA CGM’s growing presence in the United States, which now encompasses a total of seven terminals, according to CMA CGM.
Source: Offshore-Energy.biz, CMA CGM