CMA CGM Group has signed a binding agreement to acquire GCT Bayonne and New York terminals, currently held by Global Container Terminals Inc (GCT)
The Port of New York and New Jersey is a key entry point serving the northeastern US supply chain areas and represents CMA CGM’s largest gateway on the US east and Gulf coasts. The Bayonne and New York terminals, with an existing combined capacity of 2M TEU per year, could be expanded to almost double capacity.
While Bayonne terminal has the highest level of automation, the fastest truck turn time in the harbour, the closest ocean access, and an ability to service vessels of up to 18,000 TEU, New York terminal benefits from a highly productive labour force in the Port of New York and New Jersey and connects the dense New York hinterland with direct trucking and intermodal access.
After closing, the CMA CGM Group will operate the two strategic facilities as multi-user terminals under the leadership of the current management team.
CMA CGM intends to further develop its shipping line calls in the New York area for which the terminals will provide future capacity. The Group will significantly accelerate investments in the development of the Bayonne and New York terminals, aiming to increase the combined capacity by up to 80% in the coming years. This major acquisition will make it possible for CMA CGM Group to support US east coast supply chain growth and improve efficiency to and from the world.
CMA CGM said in a statement, “This major investment is consistent with CMA CGM Group’s strategy of developing its terminal business while supporting the growth and efficiency of its shipping lines and guaranteeing service quality for its clients.
Currently, the group has investments in 52 port terminals in 28 countries, through CMA Terminals and its Terminal Link joint venture.
CMA CGM Group chairman and chief executive 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.”
