French shipping line CMA CGM has confirmed its plans to acquire minority shares in two container terminals in Spain, namely CSP Valencia and CSP Bilbao. The company will purchase a 49% stake in CSP Valencia and a 38% stake in CSP Bilbao, subject to regulatory approval. These terminals are currently operated by COSCO Shipping Ports (CSP), which gained control over them in 2017 after acquiring a majority stake in the container terminals of Noatum Ports, a Spanish operator. CMA CGM’s acquisitions aim to enhance its end-to-end forwarding and logistics services in Spain, as well as increase cargo handling capacity in the Mediterranean region.
CSP Valencia, located in the Western Mediterranean, is one of Spain’s largest container terminals, boasting a capacity of approximately 3.50 million twenty-foot equivalent units (TEUs). On the Atlantic Coast, CSP Bilbao is a smaller terminal with a capacity of around 950,000 TEUs.
These recent acquisitions align with CMA CGM’s strategic focus on expanding its presence in end-to-end logistics, ports, and terminals. In the past year, the company has announced terminal acquisitions in Los Angeles and the Port of New York/New Jersey. Additionally, CMA CGM is collaborating with Hutchison Ports and COSCO to expand the Suez Canal Container Terminal at Port Said in Egypt.
CMA CGM already owns terminal assets in Algeciras and Seville in Spain, and globally, the group holds stakes in 56 port terminals. These investments are typically made through wholly-owned subsidiaries like CMA Terminals or through Terminal Link, a joint venture with China Merchants Group in which CMA CGM holds a 51% stake.