CMA CGM grows in Med with terminal stake

A 50% interest minus one share in Spain’s Total Terminal International (TTI) Algeciras container terminal in the Port of Algeciras Bay, on the Strait of Gibraltar, has been acquired by the Group’s CMA Terminals subsidiary.

Commenting on the close of the share purchase agreement, Christine Cabau Woehrel, CMA CGM Group executive vice president, industrial assets and operations, said: “Our investment in the TTIA terminal in Algeciras is a sign of our confidence in the region’s growth potential and reflects our desire to strengthen our service capabilities in the Strait of Gibraltar. This new equity position in one of the Mediterranean’s busiest ports also strengthens the CMA CGM Group’s status as a leading port terminal operator.”

Capacity of 1.7m TEUs

Inaugurated in 2010, the TTIA terminal has an annual capacity of 1.7m TEUs and is the first semi-automatic terminal in the Med area. It is capable of accommodating the largest containerships in the CMA CGM Group fleet. The terminal includes a container yard area of 30 hectares. a quay length of 850 meters and draught of 18m, eight ship-to-shore (STS) cranes, and potential to double its capacity in the future.

CMA CGM Group and its partners in Algesiras, HMM and DIF Capital Partners, will join forces to support and develop this strategic terminal.

The Group’s Terminal Link subsidiary has a 30% stake in the EUROGATE Tanger container terminal at Tangier, Morocco, on the Strait of Gibraltar.