CMA CGM assigns $600 million for Port Liberty
French shipping major CMA CGM has revealed the names of its new terminals in the United States as the company embarks upon a $600 million upgrade at “Port Liberty New York” and “Port Liberty Bayonne”.
The terminals were acquired by CMA CGM from Global Container Terminals (GCT) in December 2022.
The investment will see the incorporation of the latest technology at the two facilities as well as a capacity increase. According to CMA CGM, post-investment, Port Liberty’s combined capacity will increase by up to 80%, allowing larger, more energy-efficient ships to dock.
The company is also working with the State of New York and the State of New Jersey 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.
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, declared: “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. 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.”
The investment in the terminals reinforces CMA CGM’s growing presence in the United States which now includes seven terminals.