French shipping group CMA CGM now releases details on how much the is investing in the acquisition of the two key terminals in New York and New Jersey, which is a major part of the company’s ”ambitious plans” for US expansion. 

CMA CGM is investing USD 600m in Port Liberty New York and Port Liberty Bayonne, as the new ports will be called.

The USD 600m will increase capacity by 80% at the ports and create almost 1,000 new jobs, according to a press release. 

”This is a major step forward in our strategy to develop and modernize infrastructures here and around the world,” says Rodolphe Saadé, CEO of CMA CGM Group. 

In early September, CMA CGM was able to finalize the acquisition of the two terminals. 

At the time, the French carrier announced that it would increase terminal capacity in the two ports by 50% over the next ten years. 

More specifically, the USD 600m investment will be used to improve the rail and road infrastructure around the terminals in an effort to minimize the amount of trucks entering and exiting the ports. 

Rodolphe Saadé goes on to say that the ports are now an integral part of CMA CGM’s flagship terminals in the US. 

In addition to the two port terminals in New York and New Jersey, the French group operates five other terminals in the US. 

(Translated using DeepL with additional editing by Kristoffer Grønbæk)