The CMA CGM Group sold its stakes in eight port terminals to Terminal Link, a joint venture was created in 2013, with 51% owned by CMA CGM and 49 percent by China Merchants Port (CMPort), based in Hong Kong. The transaction, anticipated in December 2019, is valued at $815 million. This initial disposal includes the following terminals:
- Odessa Terminal (Ukraine)
- CMA CGM PSA Lion Terminal (CPLT), Singapore
- Kingston Freeport Terminal (Jamaica)
- Rotterdam World Gateway (Netherlands)
- Qingdao Qianwan United Advance Container Terminal (China)
- Vietnam International Container Terminal, Ho Chi Minh City
- Laem Chabang International Terminal (Thailand)
- Umm Qasr Terminal (Iraq)
This transaction is one step of a plan aimend to reduce CMA CGM's consolidated debt by more than $1.3 billion by the end of first-half 2020. The Group is strengthening its balance sheet amidst the high uncertainty created by the global Covid-19 health crisis. While the crisis has had a limited impact in the first quarter of 2020, the Group expects a decline in volumes, particularly outbound to Europe and the U.S.
