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Big announcement! France's CMA CGM announced the acquisition of the third largest terminal in the United States

Time:2021-11-05 Publisher:Kevin Num:3345

At present, the situation of offshore supply chain is still very tense. For liner companies, controlling terminal assets has become more and more important.

On November 3, CMA CGM, a French group, announced that it would acquire 90% of the Fenix marine services Wharf in Los Angeles held by EQT infrastructure III for us $2.3 billion.

If the transaction is completed, plus the 10% shares previously held by CMA CGM, CMA CGM will hold 100% of FMS terminal.

With a capacity of about 2.5 million TEU, the terminal is the third largest terminal in the port of Los Angeles / long beach area, and has a long-term franchise agreement until 2043.

At the same time, the terminal also has good infrastructure: 4 berths, 16 cranes, 8 railway tracks and a 292 acre container yard.

However, this transaction still needs to be approved by relevant regulators.

CMA CGM said it was a major investment. This acquisition is in line with the company's strategy of developing its terminal business and contributes to the efficiency of shipping, so as to improve the service quality of customers.

It also said that the acquisition consolidated the company's position as a global terminal operator. The group currently invests in 49 terminals in 27 countries.

CEO Rodolphe Saade said: "the rapid recovery of the global economy proves the importance of port and logistics infrastructure. In order to effectively manage our terminal business on the west coast of the United States, we decided to acquire FMS."

In addition, the acquisition of the terminal will support CMA CGM's long-term plan to expand its U.S. shipping business, including the introduction of larger container ships.

The announcement pointed out: "by 2022, FMS terminal will usher in the first CMA CGM LNG powered 15000 TEU ship, which will be deployed on the route between Asia and the United States."

Container shipping companies with sufficient cash flow to earn huge profits in the current market are investing in the future through acquisitions and ship orders.

This year, CMA CGM also extended its business to the field of air transportation. CMA CGM air cargo acquired four second-hand cargo aircraft and ordered two new aircraft.

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