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CMA CGM sold 8 port terminals (Odessa's one included)

09 Apr, 2020
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CMA CGM sold 8 port terminals (Odessa's one included)

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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.

The Odessa Journal

The Odessa Journal

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