CMA CGM to acquire GCT Bayonne and New York terminals

CMA CGM 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 is a key entry point to the supply chain areas in the Northeast US and represents the carrier’s largest gateway on the East and Gulf Coasts.

The Bayonne and New York terminals, with an existing combined capacity of 2m teu per year, have a potential for further expansion, up to almost double capacity.