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Nov 04,2021

Shipping services: CMA CGM acquires one of the largest ports in the United States for US$2.3 billion!

CMA CGM just announced the acquisition of one of the largest Ocean freight services port terminals in the United States! Fenix Marine Services!

 

CMA CGM said

-Fenix Marine Services is a key infrastructure asset that supports the rapid growth of CMA CGM in the United States. To
-Significant investment in the Los Angeles/Long Beach area, the most strategic gateway to the U.S. market. To
-Plans to accelerate the development of the terminal to provide our customers with higher capacity and service quality.

CMA CGM, a global leader in shipping and logistics, has signed an agreement to acquire a 90% stake in the Los Angeles Fenix Marine Services (FMS) terminal currently held by EQT Infrastructure III for an enterprise value of US$2.3 billion. CMA CGM currently holds a 10% stake in the terminal, and CMA CGM will become the sole owner of the FMS facility after the transaction is completed.

 

State-of-the-art infrastructure located in the center of one of the largest port areas in the world

 

FMS is the third largest terminal in the Los Angeles/Long Beach port area (approximately 2.5 million TEU) and one of the largest terminals in North America. The terminal also benefits from a long-term concession agreement (until 2043).

 

Ocean freight services

 

The FMS terminal has a strategic deep water location and first-class infrastructure:

4 berths, each berth is more than 1,000 feet long and has a draft of 50 feet.
16 cranes, of which 8 can provide services for very large ships,
8 railway tracks are located in the terminal building to ensure first-class railway connection,
A 292-acre container yard, more than 700 reefer container plugs,
24/7 reefer monitoring.

 

After the transaction is completed, CMA CGM will take over the operation of this strategic industrial facility, aiming to improve its service quality and better meet customer expectations. As part of its plan, the group will accelerate the development of FMS through substantial investment in the next few years:

 

-Expand the container yard to increase the capacity of the terminal in stages,
-Expand the railroad capacity of the terminal to create one of the largest railroad infrastructure in the United States,
-Construction of new berths
-Continue the digital transformation of the terminal.

 

By the beginning of 2022, the FMS terminal will usher in the first CMA CGM LNG-powered 15,000-TEU ships, which will be deployed on routes between Asia and the United States. CMA CGM looks forward to working with the experienced team of FMS as terminal operators and welcomes them to join the wider CMA CGM terminal series.

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