CMA CGM builds up terminal footprint with CSP Bilbao and Valencia
To acquire 49% stake in CSP Valencia & 38% stake in CSP Bilbao, two major port terminals in Spain
The CMA CGM Group will acquire shares in Cosco Shipping Ports (Spain) Holding (CSP) from TPIH Iberia, corresponding to an indirect stake of 49 percent in CSP Iberian Valencia Terminal, one of Spain’s largest container terminals, and an indirect stake of 38 percent in CSP Iberian Bilbao Terminal connecting Spain with the main ports in Northern Europe via the Atlantic Ocean.
The acquisition is subject to all required regulatory approvals being obtained, says an official release.
Located in the port of Bilbao, CSP Bilbao connects Spain with the main ports in Northern Europe, especially through CMA CGM’s intra-European short sea services by the Atlantic Ocean, says the release. "With a capacity of 950,000 TEUs, a surface of over 43 Ha, over 1,150 metres of quay, a depth of 21 metres, seven Ship-to-Shore container cranes, 19 rubber-tired gantry cranes, and two rail mounted gantry cranes, CSP Iberian Bilbao Terminals is the leading terminal in the North of Spain and the most appropriate location for short sea containerised transport within the Iberian Peninsula and in South-West France."
CSP Valencia is one of Spain's largest container terminals with a capacity of 3.5 million TEUs, a surface of 145 Ha, over 2,300 metres of quay, a depth of 15.5 metres and extensive equipment including 21 Ship-to-Shore container cranes, and 65 rubber-tired gantry cranes. CSP Valencia is the first Spanish terminal for local cargo, and the main gateway to Madrid, the release added.
"Complementing CMA CGM’s terminals in TTIA Algeciras and Sevilla, CSP Bilbao and Valencia will allow CMA CGM to support its end-to-end shipping and logistics inland solutions and offer first class services to customers in Spain to connect them to the world. Both CSP Bilbao and Valencia offer strong intermodal connections to the country’s hinterland, including rail, with direct connections to Madrid and Zaragoza."
The CMA CGM Group operates 35 direct maritime services serving 18 ports of call in Spain. The Group owns equity stakes in more than 56 port terminals and projects around the world. Led by Rodolphe Saadé, the CMA CGM Group transported 21.7 million TEU containers in 2022, the release added.
