French liner company CMA CGM has secured a 30-year concession of Kingston Container Terminal in Jamaica.
Mr. Farid T. Salem, CMA CGM Group Executive Officer signed the agreement with the Port Authority of Jamaica on April 7th, in Kingston, Jamaica,
The company plans to bolster the terminal’s annual capacity up to 3.6 million TEU containers with the addition of 14 gantry cranes and 60 port riders as part of its efforts to turn Kingston into one of the Caribbean top five ports.
The terminal encompasses a total 2,400 meters of wharf, a 80 ha surface and 15.5 meters draught.
CMA CGM sees special potential in the terminal due to its strategic location with regard to the Panama Canal widening as it is located at the entrance of the canal, at the cross roads of the North/South and East/West lines.
“This is a key investment for the CMA CGM Group. With this terminal, the group anticipates the Panama Canal widening, expected to be completed in 2016, and the entire area development that it will create. The CMA CGM group therefore reaffirms its ambition to offer additional services to our core business, in order to improve our clients’ needs satisfaction,” said Salem.
The terminal, where CMA CGM market share accounts for about 35 to 40%, will be open to all shipping lines, the company said.