GCT Global Container Terminals Inc. has entered into an agreement to sell its US-based terminal assets to CMA CGM Group, a global player in sea, land, air and logistics solutions. GCT currently operates two U.S. terminals: GCT New York on Staten Island, NY and GCT Bayonne in Bayonne, NJ, in the Port of New York and New Jersey. CMA CGM, part of the Ocean Alliance, currently calls the Maher Terminal at NY-NJ, with one service calling the APMT facility, while GCT Bayonne is used by THE Alliance and GCT New York by Mediterranean Shipping Co. and Wan Hai.
New York–New Jersey is CMA CGM’s largest gateway on the US East Coast, and the carrier intends to further develop calls in the New York area for which the newly acquired terminals will provide future capacity. The addition of the GCT facilities brings the carrier’s terminal network in the US to seven, and 52 terminals globally in 28 countries through CMA Terminals’ joint venture with Terminal Link.
GCT will retain full ownership of GCT Canada and its terminals, GCT Deltaport and GCT Vanterm operating in the Port of Vancouver. The transaction is subject to customary and required regulatory approvals and consents.