On Thursday, August 21, CMA CGM Group signed a 50-year concession agreement to build
and operate a container terminal in the Port of Tianjin in North China.
The new terminal, which is expected to become operational in 2011, will feature a 1100-meter
quay and annual capacity of 1.7 million TEUs.
The terminal will be operated by a joint venture consisting of CMA CGM (with a 20% stake);
Tianjin Port Holding Co., a Tianjin Port Group subsidiary listed on the Shanghai Stock
Exchange (60%), and Hong Kong-based Asia International Shipping Ltd. (20%)
Located only 150 km from Beijing in the Binhai industrial zone, Tianjin is the natural maritime
link to the Chinese capital. It ranks
16th in the world in container traffic, with more than 7.1
million TEUs handled in 2007, an increase of 19% over 2006. Volumes grew 22% in the first
five months of 2008.
Ten years after its first call in Tianjin, CMA CGM has become one of the port’s leading
operators for international traffic, with volume of 400,000 TEUs in 2007, a 33% jump over 2006.
“With this new investment, CMA CGM has secured a strategic base in Tianjin, which is the
port offering the best prospects of growth in North China. This will further improve the quality
of service offered to our vessels, and therefore to our customers,” explains Farid Salem, CMA
CGM Group Chief Executive Vice-President.
This will be CMA CGM’s 26th investment in port terminals worldwide. The Group is already
present in the Chinese port of Xiamen - ranked 22nd among the world’s container ports – via a
cooperation agreement signed in November 2007. In 2006 the Group also acquired an eight
percent share in China Rail Intermodal, a project to design, build and manage a network of 18
railway container stations covering the entire Chinese territory, including Tianjin.
CMA CGM has developed a dense network of 64 offices in China, where it has had a
presence since 1992. The Group currently offers 30 weekly services from the Asian giant, with
a departure every six hours.
About CMA CGM
Led by its founder Jacques R. Saadé, CMA CGM is currently the world’s third largest container shipping Group and is ranked number one in France. Operating a fleet of 377 vessels, including 101 company-owned, the Group serves 400 ports around the world. In 2007, it carried more than seven million TEUs (twenty-foot equivalent units). With a presence on all continents and in 150 countries through its network of 600 agencies, the Group employs 16,000 people worldwide, including 4,200 in France.France: CMA CGM Media, +33 (0)4 88 91 90 36 -
media@cma-cgm.com
China: Frédéric Campagnac, Tel: (86 10) 8458 5908 - Mobile: (86) 135 0109 1936 -
chn.fcampagnac@cma-cgm.com