France headquartered CMA CGM has signed a binding agreement to acquire GCT Bayonne and New York terminals, currently held by Global Container Terminals. While Bayonne terminal has the highest level of automation, the fastest truck turn time in the harbor, the closest ocean access, and an ability to service vessels of up to 18,000 TEUs, New York Terminal benefits from a highly productive labor force in the Port of New York and New Jersey and connects the dense New York hinterland with direct trucking and intermodal access. 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 2 million TEUs per year, have a potential for further expansion, up to almost double capacity. After closing, the CMA CGM Group will operate the two strategic facilities as multi-user terminals under the leadership of the current management team and will continue focusing on improving its service quality to satisfy US customers’ expectations. Investment in the infrastructure will be undertaken to meet both CMA CGM and local communities’ environment protection targets. 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, with an objective to increase the combined capacity by up to 80 % in the coming years.
France headquartered CMA CGM has signed a binding agreement to acquire GCT Bayonne and New York terminals, currently held by Global Container Terminals. While Bayonne terminal has the highest level of automation, the fastest truck turn time in the harbor, the closest ocean access, and an ability to service vessels of up to 18,000 TEUs, New York Terminal benefits from a highly productive labor force in the Port of New York and New Jersey and connects the dense New York hinterland with direct trucking and intermodal access. 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 2 million TEUs per year, have a potential for further expansion, up to almost double capacity. After closing, the CMA CGM Group will operate the two strategic facilities as multi-user terminals under the leadership of the current management team and will continue focusing on improving its service quality to satisfy US customers’ expectations. Investment in the infrastructure will be undertaken to meet both CMA CGM and local communities’ environment protection targets. 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, with an objective to increase the combined capacity by up to 80 % in the coming years.
