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CMA CGM Acquires TTI Algeciras Strengthening Its Position In The Strait Of Gibraltar

CMA CGM acquires TTI Algeciras strengthening its position in the Strait of Gibraltar

Marseille, France (PortSEurope) March 2, 2021 – The French shipping and logistics powerhouse CMA CGM Group said that its CMA Terminals subsidiary has finalised the acquisition of a 50% interest minus one share in Spain’s Total Terminal International Algeciras (TTIA) port terminal – a strategic investment strengthening CMA CGM’s positions in the Strait of Gibraltar. The TTIA terminal, located on the Spanish side of the
Strait of Gibraltar at the crossroads of trade between Asia, Mediterranean and Northern Europe, is capable of accommodating the largest containerships in the CMA CGM Group fleet through its latest equipment, a container yard area of 30 hectares, quay length of 850 meters and draught of 18 meters, eight ship-to-shore (STS) cranes and the potential to double its capacity in the future. Such a strategic location has allowed the terminal to maintain strong volumes despite the Covid-19 coronavirus crisis. TTIA operates under a concession provided by the Port of Algeciras Bay Authority which runs until 2043. The TTIA terminal, a multi-user facility with an annual capacity of 1.7 million 20-foot equivalent units (TEUs), was inaugurated in 2010 and is the first semi-automatic terminal in the Mediterranean area. CMA CGM Group and its partners in Algeciras, HMM (the largest South Korean shipping line) and DIF Capital Partners (through its DIF Core Infrastructure Fund I – CIF I), will join forces to support and develop this strategic terminal. DIF and CMA CGM signed a sale and purchase agreement with HMM for the acquisition of a 50% less one share stake in the TTIA container terminal in Algeciras in August 2020. The acquisition dovetails well with CMA CGM Group position held via Terminal Link in Tangiers, Morocco, Eurogate terminal since 2006. Every year, the Group operates close to 1,200 calls at ports in the Strait of Gibraltar, one of the world’s busiest commercial shipping lanes. CMA CGM currently operates 48 port terminals in 27 countries via its subsidiaries CMA Terminals and Terminal Link, (a joint venture with China Merchants Holdings International). Copyright (C) PortSEurope. All Rights Reserved. 2021

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