CMA CGM is strengthening its position in Spain by securing stakes in two terminals owned by Cosco Shipping Ports in Bilbao and Valencia.
The French carrier has decided to acquire 49% of CSP Iberian Valencia Terminal and 38% of CSP Iberian Bilbao Terminal from TPIH Iberia.
The financial details of the transactions have yet to be disclosed and the acquisitions are subject to regulatory approvals.
CSP Bilbao connects Spain with the main northern European ports and has a 950,000 TEU capacity. CSP Valencia handles 3.5 million TEUS and is one of the largest container terminals in Spain.
The integration of CMA CGM’s terminals in Algeciras, Seville, Bilbao and Valencia will enable the carrier to support its end-to-end forwarding and logistics solutions on land and offer first-class services to customers in Spain to connect them to the rest of the world.
Translation by Giles Foster
