CMA CGM announced that it has signed an agreement with the Port Authority of Jamaica granting the CMA CGM Group the concession of Kingston Container Terminal for 30 years. CMA CGM will use the Jamaican port for transhipment activity in the Caribbean.
With a total 2,400 m of wharf, an 80 ha surface and 15.5 m draught, Kingston Container terminal will increase its annual capacity up to 3.6m TEU following the agreement. It will be equipped with 14 gantry cranes and 60 port riders.
CMA CGM states that the terminal extension will turn Kingston into one of the Caribbean top five ports, especially in light of its strategic location relative to the Panama Canal. The terminal, where CMA CGM claim a market share of between 35-40%, will be open to all shipping lines.
The concession of Kingston Container Terminal means that CMA CGM now operates 24 terminals worldwide which handle more than 14m TEU each year.
Farid Salem, CMA CGM Group Executive Officer said, “This is a key investment for the CMA CGM Group. With this terminal, the group anticipates the Panama Canal widening, expected to be completed in 2016, and the entire area development that it will create. The CMA CGM Group therefore reaffirms its ambition to offer additional services to our core business, in order to improve our clients’ needs satisfaction.”
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