The French maritime logistics powerhouse CMA CGM Group is sharing more details of its U.S. expansion plan, announcing Wednesday a $600 million upgrade of its recently acquired Global Container Terminals (GCT) at the Bayonne, New Jersey, and New York ports.
The company completed that acquisition last month, saying the move would grow its portfolio of terminals in the U.S. to seven, and pledging to invest in the two eastern terminals and increase their capacity.
CMA CGM now says that investment will increase the facilities’ combined capacity by up to 80%, allowing larger, more energy-efficient ships to dock. The company also said it has renamed the sites “Port Liberty New York” and “Port Liberty Bayonne.”
The investment will also be used to enhance rail and road infrastructure surrounding the multi-user terminals to create more direct access to freight rail lines and major highways, thereby aiding in Port Liberty’s decarbonization efforts by limiting the number of trucks needed for shipping and transportation. Together, these efforts support also CMA CGM’s goal of reducing emissions and greenhouse gases and becoming Net Zero by 2050.
“The acquisition of these two terminals is a reflection of our ongoing commitment to the US market in building more resilient and more sustainable supply chains,” Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said in a release.
“It is a major step forward in our strategy of developing and modernizing infrastructures here and around the world. Port Liberty New York and Port Liberty Bayonne on the East Coast, together with FMS on the West Coast now rank as CMA CGM's flagship terminals in North America. They will enable us to provide a better service offering to our customers,” Saadé said.