French containership giant CMA CGM has signed an agreement to acquire two terminals at the Port of New York and New Jersey operated by Global Container Terminals Inc. (GCT), the company said this week. The move further develops the company’s terminal business while also supporting the growth of its shipping lines, the company also said.
Terms of the deal were not disclosed.
The flagship terminals GCT Bayonne and GCT New York will bring CMA CGM’s portfolio of terminals to seven in the United States, strengthening its global footprint and U.S. East Coast operations. The company operates two terminals in Los Angeles, one in Alaska, one in Houston, and one in Miami.
CMA CGM Group said it will operate the two facilities as multi-user terminals under the leadership of the facilities’ current management team. Future plans include further developing its shipping line calls in the New York area–which will be serviced by the facilities–as well as infrastructure investments. The company plans to increase the combined capacity of both terminals by up to 80%, according to a December 6 press release.
“This major acquisition will make it possible for CMA CGM Group to support U.S. East Coast supply chain growth and improve efficiency to and from the world,” according to the release.
The deal builds on the French company’s recent efforts to expand in the U.S., which includes the acquisition of Fenix Marine Services terminal at the Port of Los Angeles this past January and the purchase of Ingram Micro’s Commerce & Lifecycle Services business specializing in ecommerce contract logistics in April.