Through its subsidiary Terminal Link (Miami) LLC, CMA CGM will hold a 51% stake, with APMT holding 49% of the 71 acre site that was formerly held by APMT. The agreement is renewable for two five-year periods and represents a minimum investment of US$25m towards terminal infrastructure upgrades and improvements.
Becoming the second common user terminal in Miami to offer services to all shipping lines, the South Florida Container Terminal will initially serve CMA CGM’s five liner services which call at the port, along with Maersk Line services that account for the second highest throughput of all cargo carriers.
Served by eight gantry cranes, the terminal has a 1.52 km quay frontage and a current draught of 12 m, which is to be deepened to 15.2 m by 2015. Just under half the quay and four of cranes will be reserved for priority berthing for the joint-venture company’s vessels.
To date CMA CGM has invested in 24 container terminals worldwide, of which three are in the US, as part of its continued strategic aim to secure berthing for its vessels.
Commenting on the agreement, Farid T. Salem, CMA CGM Group chief executive vice president said, “Miami is an integral part of our network and this endeavour continues to confirm our commitment to the US”.