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Issue #592

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2014 Media Kit

CMA CGM invests in the Port of Busan, South Korea

By: | at 07:00 PM | Liner Shipping  

CMA CGM is pursuing its investment policy with the acquisition, on December 31st 2007, of a 12% stake in a future container terminal at the port of Busan, in South Korea.

Known as Busan 2-3, the new terminal is expected to become operational in 2011.

It will be operated in partnership with Macquarie, Bouygues, Hyundai, KMTC, Busan Port Authority and local operators KUKJE and KCTC.

The new facility will benefit from highly automated equipment able to handle up to 2.7 million teu each year. Technical characteristics will include a 1,400m long quay, 12 container cranes, and a 17m draft offering accessibility to 12,000 teu capacity container vessels.

Busan 2-3 is CMA CGM’s first port investment in South Korea, and the second one in Asia (a cooperation agreement was signed in Xiamen in November 2007).

The project demonstrates the strong relationship between the Group and South Korea, where CMA CGM giant container vessels are currently being built.

To this day, CMA CGM Group has invested in 23 container terminals worldwide, as part of its continued strategy aiming at securing berthing space for its ships, and ensuring the speed and efficiency of its shipping operations.