CMA CGM Group to Operate Miami Terminal in Joint Venture with APM Terminals
Terminal Link serves as the signatory of the 15-year agreement with Miami-Dade County and the terminal will be operated by a joint venture company, South Florida Container Terminal, in which Terminal Link will hold a 51 percent stake and APMT will hold 49 percent. The terminal will operate on the 71 acre site formerly held by APMT and is renewable for two five-year periods.
"As of today, CMA CGM Group has invested in 24 container terminals worldwide, of which 3 are in the US, as part of its continued strategy aiming at securing berthing space for its vessels, and ensuring the speed and efficiency of its shipping operation. Miami is an integral part of our network and this endeavour continues to confirm our commitment to the US," said Farid T. Salem, CMA CGM Group Chief Executive Vice President.
The agreement authorizes the terminal to operate as a "Common User Terminal" and offer services to all shipping lines. Historically, there has only been one common user terminal in Miami. Initially, the South Florida Container Terminal will service CMA CGM, which currently has five liner services calling at Miami, and Maersk Line, whose services account for the second highest throughput of all cargo carriers at the port.
"APM Terminals continues to view Miami as a strategic fit into our North America and global terminal networks," said Eric Sisco, President of APM Terminals North America. "We are pleased to expand our relationship with Terminal Link and CMA CGM in this joint venture which we believe offers the right foundation for continued growth of the Port of Miami."
The terminal includes a 5000-foot quay (of which, 2000 feet are offered for priority berthing to the JV), 8 gantry cranes (of which 4 are allocated for priority use by the JV), and a 40-foot draft to be deepened to 50 feet by 2015. The approved agreement also represents a minimum total investment of 25 million USD toward terminal infrastructure upgrades and improvements.
About APM Terminals
APM Terminals, with corporate headquarters in The Hague, Netherlands, is one of the world's leading global container terminal owners and operators, with a Global Terminal Network of more than 50 terminals in 35 countries and five continents, serving more than 60 container shipping lines around the world.
APM Terminals North America is the largest terminal operating company in the United States and has more than 30 years' experience in providing shipping lines with effective, efficient operation and management of container terminals, as well as stevedoring services and terminal design and development.
CMA CGM (Deutschland) GmbH
Led by its founder Jacques R. Saadé, CMA CGM is currently the world's third largest container shipping Group. Operating a fleet of 394 vessels, including 100 company-owned, the Group serves 400 ports around the world. In 2007, it carried 7.7 million TEUs (twenty-foot equivalent units). With a presence on all continents and in 150 countries through its network of 650 agencies, the Group employs 16,500 people worldwide, including 4,200 in France Press Contact: email@example.com