CMA CGM enters port of Valencia
CMA CGM has closed a deal to acquire 49 per cent of Cosco Shipping Ports (CSP) Valencia Iberian Terminal, located at the Muelle Príncipe Felipe in the Port of Valencia.
The CSP Iberian Valencia Terminal consists of 2300m of berth, 145ha of yard, an automatic gate system solely to support local cargo flows and direct connectivity to the dry ports of Madrid, Zaragoza and Bilbao, as well as an automatic gate system for the flow of local cargo.
A combination of this infrastructure and geographic location make both this terminal, and Valenciaport, a key container gateway for the Iberian peninsula, in addition to the leading port for serving Madrid. The terminal serves a market extending 350km, which comprises an estimated 55-60 per cent of Spanish GDP activity, according to information specialist Data&.
The commitment from the French line further consolidates the port’s key strategic role in the Western Mediterranean. In addition to CMA CGM, Mediterranean Shipping Co (MSC), Maersk Line and Cosco all have made major commitments to high capacity operations in the port of Valencia.
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