CMA CGM to acquire one of the largest port terminals in the US
Nov, 04, 2021 Posted by Ruth HollardWeek 202142
Based on a commercial value of 2.3 billion dollars, CMA CGM Group has signed an agreement to acquire a 90% interest in the Fenix Marine Services (FMS) terminal in Los Angeles, currently held by EQT Infrastructure III.
Presently holding a 10% stake in the terminal, CMA CGM will become the sole owner of the FMS facilities after the transaction closes.
FMS is the third largest terminal in the Port of Los Angeles / Long Beach area in terms of capacity (approximately 2.5 million TEU) and one of the largest in North America. The terminal also benefits from a long-term concession contract (until 2043).
After the closure, the CMA CGM Group will take over the operations of this strategic industrial park with the aim of improving the quality of its service to better meet the expectations of its customers.
In early 2022, the FMS terminal will receive CMA CGM’s first 15,000 TEU ships powered by liquefied natural gas to be deployed on routes between Asia and the United States.
Source: El Estrecho Digital
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