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CMA CGM to acquire GCT’s two New York terminals

Photo of Sam Chambers Sam ChambersDecember 7, 2022
1,787 Less than a minute
GCT New York

Cash-rich French liner CMA CGM has signed a binding agreement to acquire GCT Bayonne and New York terminals, currently held by Global Container Terminals (GCT).

The Port of New York and New Jersey is CMA CGM’s largest gateway on the US 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, according to CMA CGM.

CMA CGM now has investments in 52 port terminals in 28 countries, through CMA Terminals and its Terminal Link joint venture.

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Photo of Sam Chambers Sam ChambersDecember 7, 2022
1,787 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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