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Container Shipping Line Invests in Port of Long Beach

CMA CGM, the world’s third-largest container shipping line, purchases a stake in the Port of Long Beach’s Pier J. The deal will bring an additional 2.6 million container units to the Port and increase Port revenues by about $70 million over the next five years. The investment makes the Marseille, France-based ocean carrier a partner in the lease and operations of the 256-acre terminal. It also marks…