Logistics giant in sea, land, and air freight services, CMA CGM Group, has signed a binding agreement to acquire GCT Bayonne and New York terminals, currently held by Global Container Terminals Inc (GCT).
The Port of New York and New Jersey are key entry points which serve the Northeastern United States supply chain areas and the acquisition represents CMA CGM’s largest gateway on the US East and Gulf Coasts.
The Bayonne and New York terminals, have a combined capacity of 2 million TEUs per year and have a potential for further expansion of up to almost double capacity.
CMA CGM is planning on continuing its expansion in the northern hemisphere and solidifying its name as a ‘leading global port terminal operator’.
Currently, the company has investments in 52 port terminals in 28 countries, through CMA Terminals and its Terminal Link joint venture.