Sunday , 17 November 2019
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CMA CGM has purchased a 25% stake in the Port of Long Beach’s Pier J, a move that will bring an additional 2.6m teu to the port and increase Port revenues by about US$70 m over the next five years.

CMA CGM takes a stake in Long Beach Pier J terminal

The investment makes the carrier a partner in the lease and operations of the 104 ha facility that has a berth length of 1,799 m. It also marks CMA CGM’s first investment in a port on the West Coast of North America and guarantees that its ships will call exclusively at Long Beach when using the San Pedro Bay gateway. CMA CGM’s vessels are currently calling mainly at the SSAMSC Pier A and the TTI/Hanjin Pier T terminals in Long Beach

“Of the large carriers, CMA was the only one that did not have a home locally. We are glad they’ve decided to call Long Beach home,” said Port Executive Director Christopher Lytle. “This agreement validates the investments we are making in our facilities. We are committed to remaining the gateway of choice for trans-Pacific trade.”

Pier J is home to the Pacific Container Terminal. With a water depth of about 50 feet (15.2 m) and 17 post-Panamax gantry cranes, it can serve the largest containerships. The terminal has been operated as a joint venture between global SSA Marine and COSCO. CMA CGM became a partner in the venture in November and officially announced the agreement on December 11, 2012.

“This first new investment for our Group on the US West Coast will reinforce our position in North America,” said Farid Salem, CMA CGM Group Executive Officer. By investing in Pier J, the Group ensures that the largest vessels deployed in the trans-Pacific trade will be efficiently managed.”

CMA CGM owns stakes in two other US terminals located in the east coast, at Houston’s Bayport Container Terminal and Miami’s South Florida Container Terminal. In 2010, CMA CGM disposed of its 20% interest in Mobile Container Terminal to APM Terminals in a swap deal for APMT’s 61% stake in Nord France Terminal International in Dunkirk.