French shipping company CMA CGM Group has agreed to acquire the GCT Bayonne and New York terminals from Global Container Terminals (GCT).
With an existing combined capacity of two million twenty-foot equivalent units (TEUs), the Bayonne and New York terminals have the possibility of being expanded to almost double the capacity.
With advanced automation and fast truck turn time, the Bayonne terminal can accommodate vessels of up to 18,000TEUs.
Meanwhile, the New York terminal links the dense New York hinterland with direct trucking and intermodal access.
Once the deal concludes, CMA CGM will run the two strategic facilities as multi-user terminals under the current management team.
CMA CGM aims to significantly invest in both terminals to increase the combined capacity by up to 80% in the future. The terminals are expected to help CMA CGM improve its US East Coast supply chain.
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CMA CGM is also focusing on the development of shipping line calls in the New York area to help the terminals deliver future capacity.
With the latest deal, CMA CGM’s portfolio increases to seven terminals in the US.
CMA CGM Group chairman and CEO Rodolphe Saadé said: “The acquisition of GCT Bayonne and GCT New York terminals is a strategic investment for the CMA CGM Group. It reinforces the services we provide to US 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.”
Through its CMA Terminals and Terminal Link joint venture (JV), CMA CGM Group currently has investments in 52 port terminals in 28 countries.