CMA CGM TO ACQUIRE TWO KEY TERMINALS AT PORT OF NEW YORK AND NEW JERSEY
French shipping group CMA CGM will acquire two key container terminals at the Port of New York and New Jersey. The terminals, GCT Bayonne in New Jersey and GCT New York on Staten Island, are currently held by Global Container Terminals Inc (GCT) and have a current combined capacity of 2 million TEUs per year, with room for growth. The Port of New York and New Jersey has emerged in recent months as the leading container port in the country thanks to shifting of inbound cargo volumes away from the U.S. West Coast, where labour negotiations have prompted importers—fearing disruption—to land a bigger share of container imports at East and Gulf Coast ports. After closing, CMA CGM says it will operate the two facilities as multi-user terminals under the leadership of the current management team and continue focusing on improving its service quality to satisfy U.S. customers’ expectations. It will also invest in infrastructure to meet both CMA CGM and local communities’ environment protection targets.
OFFICIALS MARK CHARLESTON HARBOR DEEPENING PROJECT COMPLETION: ‘DEEPEST ON THE EAST COAST’
After over a decade of planning and years of construction, Charleston Harbour in South Carolina is now the deepest harbour on the U.S. East Coast at 52 feet. The completion of the roughly $580 million Charleston Harbour Deepening Project will allow the Port of Charleston to accommodate the biggest ships calling the East Coast with no restrictions, supporting South Carolina’s economy and Southeast supply chains. Governor Henry McMaster and other state elected leaders, Congressional members, project partners, business and maritime community leaders, and South Carolina Ports officials gathered Tuesday to mark the successful completion of the project.
Georgia Ports to Renovate Savannah Terminal as Container Business Takes Off
The Georgia Ports Authority will renovate and realign the docks at the Port of Savannah’s Ocean Terminal to better accommodate its the growing number of containers moving through the port. The Port of Savannah is coming off its busiest October ever, in which it handled nearly 553,000 TEUs. In 2021, the Port of Savannah moved a record 5.6 million TEUs, making for an increase of about 20% compared to 2020. Savannah has benefitted from both a growing amount of U.S. imports during the pandemic and a shift in cargo away from West Coast ports where labor negotiations are ongoing for more than 22,000 dockworkers.
LOS ANGELES PORT CHIEF SEES LABOR DEAL BY EARLY NEXT YEAR
The chief of the busiest US West Coast port expects a new labour contract for dockworkers in the region to be reached by early February, removing uncertainty for importers and ramping up a campaign to lure back cargo lost to East and Gulf Coast. Cargo volumes at the port that has traditionally been the busiest in the US dropped 25% in October from a year earlier and reached the lowest level since mid-2020 as demand for big-ticket appliances eased and retailers sought alternatives to avoid possible disruptions from the labour talks for a new contract for about 22,000 longshoremen, now in their sixth month.
