When French and US-Americans sympathise
The Marseille-based CMA CGM Group has inked an agreement to acquire GCT Bayonne and New York terminals, on Staten Island. The two east coast facilities belong to Global Container Terminals (GCT). The price of the purchase wasn’t disclosed. The Port Authority of New York and New Jersey (PANYNJ) favours the deal of the two terminals, which sport a combined capacity of 2 million teu a year.
The French group has invested significantly in the USA over the last twelve months, by acquiring Fenix Marine Services terminal in the Port of Los Angeles and Ingram Micro’s commerce and lifecycle services.
Reuters reported that this GCT acquisition will nicely complement CMA CGM’s North American capabilities, which include a fleet of nine US-flagged vessels operating under the American President Lines brand (APL), and stakes in five terminals, including FMS (100%) and PMS (10%) in the Los Angeles area, Dutch Harbor (100%) in Alaska, Bayport (26%) in Houston and SFCT (26%) in Miami.
GCT will retain full ownership of GCT Canada and its terminals, GCT Deltaport and GCT Vanterm operating in the port of Vancouver. The transaction is subject to regulatory approvals. (sh)