CMA CGM acquired a 50% interest minus one share in TTIA container terminal in Algeciras, Spain
The CMA CGM Group, a world leader in shipping and logistics, announced today that its CMA Terminals subsidiary has acquired a 50% interest minus one share in Spain’s Total Terminal International Algeciras (TTIA) port terminal.
The TTIA terminal, located in 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,
A quay length of 850 meters and draught of 18 meters,
eight ship-to-shore (STS) cranes, potential to double its capacity in the future.
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 Med area.
CMA CGM Group and its partners in Algeciras, HMM and DIF Capital Partners, will join forces to support and develop this strategic terminal.
Through this strategic investment, the CMA CGM Group, acting via its CMA Terminals subsidiary, is strengthening its position as a terminal operator in the Strait of Gibraltar, a move that dovetails well with its 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.
The Group currently operates 48 port terminals in 27 countries via its subsidiaries CMA Terminals and Terminal Link, (a joint venture with China Merchants Holdings International.
About CMA CGM
Led by Rodolphe Saadé, the CMA CGM Group is a world leader in shipping and logistics. Its 538 vessels serve more than 420 ports around the world, on all five continents. In 2019, they transported nearly 22 million TEU (twenty-foot equivalent units) containers. With CEVA Logistics, a world leader in logistics services, CMA CGM handles more than 500,000 tons of airfreight and 1.9 million tons of inland freight every year.
CMA CGM is constantly innovating to offer customers new maritime, inland and logistics solutions. Present on every continent and in 160 countries through its network of 755 offices and 750 warehouses, the Group employs more than 110,000 people worldwide, of which 2,400 are in Marseille where its head office is located.
