CMA CGM links with APM in Miami terminal venture
CMA CGM Group, through its subsidiary Terminal Link (Miami), and APM Terminals North America will form a joint venture to operate terminals in the port of Miami.
The Miami-Dade Board of County Commissioners unanimously approved a resolution that authorises the joint venture.
Terminal Link will sign a 15-year agreement with Miami-Dade County and the terminal will be operated by a joint venture company, South Florida Container Terminal. Terminal Link will hold a 51 percent stake and APMT will hold 49 percent.
The terminal will operate on the 29-hectare 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 three 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,” said Farid Salem, CMA CGM Group chief executive vice president.
The agreement authorises the terminal to operate as a “common user terminal” offering services to all shipping lines, although 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.
The terminal includes a 1.5km quay (of which, 600m is offered for priority berthing to the JV), eight gantry cranes (of which four are allocated for priority use by the JV), and a 12m draft to be deepened to 15m by 2015.
The approved agreement also represents a minimum total investment of US$25 million toward terminal infrastructure upgrades and improvements.
The Miami-Dade Board of County Commissioners unanimously approved a resolution that authorises the joint venture.
Terminal Link will sign a 15-year agreement with Miami-Dade County and the terminal will be operated by a joint venture company, South Florida Container Terminal. Terminal Link will hold a 51 percent stake and APMT will hold 49 percent.
The terminal will operate on the 29-hectare 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 three 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,” said Farid Salem, CMA CGM Group chief executive vice president.
The agreement authorises the terminal to operate as a “common user terminal” offering services to all shipping lines, although 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.
The terminal includes a 1.5km quay (of which, 600m is offered for priority berthing to the JV), eight gantry cranes (of which four are allocated for priority use by the JV), and a 12m draft to be deepened to 15m by 2015.
The approved agreement also represents a minimum total investment of US$25 million toward terminal infrastructure upgrades and improvements.