On Aug. 31, CMA CGM Group announced it had completed its acquisition of the Global Container Terminals in Bayonne, New Jersey and New York City.
The acquisition strengthens the group’s position as a global terminal operators and expands its U.S. East Coast footprint, officials said. The group said it will work closely with the Port Authority of New York and New Jersey to decarbonize the terminals and develop plan to provide needed capacity to support U.S. supply chain fluidity.
Officials with the group said the two new assets will provide flagship terminal operations at a critical U.S. East coast entry point. The group’s Terminal are will operate the two multi-use facilities under its current management team, but will further develop them as part of the strategic New York/New Jersey gateway. Development plans include continued development of Bayonne’s Berth 3 which, when completed, will be one of the most capable berths on the East coast; investments in additional yard and berth capacity at both terminals and reduced emissions and greenhouse gases with a goal of being NetZero by 2050.
CMA CGM said it aims to increase terminal capacity by more than 50 percent during the next 10 years, adding an estimated 240 direct jobs and more than 700 construction jobs over the next seven years.
CMA CGM Group serves more than 420 ports on five continents with a fleet of around 623 vessels, officials said. The Group transported 21.8 million TEU containers in 2022. The company is present in 160 countries through its network of more than 400 offices and 750 warehouses, the group said, and employs more than 155,000 people globally, including nearly 4,000 in Marseille, France, at its worldwide headquarters.