CMA CGM increases its presence in the Spanish port market
Acquired 49% of COSCO Shipping Ports (Spain) Holdings
June 8, 2023
The shipowning group French CMA CGM further increases its presence on the world's port docks, a market in which is present through the terminalist companies CMA Terminals and Terminal Link, including other piers in the market Spanish port in addition to those already managed in the ports of Algeciras and Seville.
The transalpine group, in fact, has signed an agreement for acquire TPIH Iberia's 49% stake in COSCO Shipping Ports (Spain) Holdings, the terminalista company Spanish which is controlled with a 51% stake by the Chinese COSCO Shipping Ports of the shipowning group COSCO Shipping Holdings ( of 12 June 2017). With the acquisition of CMA CGM obtains 38% of CSP Iberian Billbao Terminal, a company 39.5% owned by COSCO Shipping Ports which manages the container terminal of the port of Bilbao, and 49% of the CSP Iberian Valencia Terminal which operates Terminal activities for container handling at the Príncipe Felipe, Este and Costa piers of the port of Valencia and the remaining 51% of the capital is held by COSCO Shipping Ports.
The Bilbao terminal has an annual traffic capacity pairs to 950 thousand teu, while that of Valencia can enliven up to 3.5 million teu.
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