CMA CGM Makes Jamaica its Caribbean Hub
The CMA CGM Group announced that Farid T. Salem, CMA CGM Group Executive Officer, signed on April 7, in Kingston – Jamaica, an agreement with the Port Authority of Jamaica granting the CMA CGM Group the concession of Kingston Container Terminal for 30 years. Portia Simpson Miller, Jamaica Prime Minister, and Jean-Pierre Bel, the French President François Hollande Special Representative in Latin America and the Caribbean, attended the event.
With CMA CGM, Kingston becomes one of the major transshipment hub port in the Caribbean. With a total 2,400 meters of wharf, a 80 ha surface and 15.5 meters draught, Kingston Container terminal will increase its annual capacity up to 3.6 million TEU containers. It will be equipped with 14 gantry cranes and 60 port riders. The terminal extension will turn Kingston into one of the Caribbean top five ports.
Jamaica is a strategic location regarding the Panama Canal widening, as the Panama Canal, expected to be completed in 2016, will allow to deploy larger vessels, with 12,600 TEUs, in the area.
Located at the entrance of the canal, at the cross roads of the North/South and East/West lines, the new terminal will offer a deeper draught where larger vessels will be accommodated. The additional equipment planned will allow to develop transshipment operations via secondary lines in the entire area.
The terminal, where CMA CGM market share accounts for about 35 to 40%, will be open to all shipping lines benefitting from the same quality of services and treatment without discrimination.
With Kingston Container Terminal, the CMA CGM Group reinforces its presence in terminals. The CMA CGM Group has been operating 24 terminals worldwide and handles more than 14 million TEU each year via its two dedicated entities. They reinforce the Group’s additional services to maritime transport offer.
This investment is part of the CMA CGM Group global development plan in this world area, including new vessels more adapted to markets, as well as the creation of logistics platforms and the volume increase development in ports – for instance in the French Antilles.
Farid T. Salem, CMA CGM Group Executive Officer: “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”.