CMA CGM Group announces the acquisition of Tripoli Container Terminal's Gulftainer Lebanon
The acquisition of the Port of Tripoli operator is at the heart of CMA CGM's maritime strategy
March 02, 2021
CMA CGM Group has announced the acquisition of all shares of Gulftainer Lebanon, the operator of the Port of Tripoli container terminal.
With the acquisition, CMA CGM further strengthens its position and expertise as a container terminal operator in the Mediterranean.
With an established presence at the Port of Tripoli, the Group operates five lines per week, including the BEX, which offers a direct link with China.
Since February, two of its existing maritime lines, Med Express and Megem, have opened the way to the Arab, Indian and Mediterranean markets.
In 2021, the Port of Tripoli, which is a Mediterranean hub, will welcome nearly 240 vessels of the Group's fleet.
CMA CGM strengthens its port presence in Lebanon
This acquisition confirms the desire of CMA CGM Group to strengthen its port presence in Lebanon in order to contribute to the country's economic development, both through its maritime and port activities and its logistics expertise with its subsidiary CEVA Logistics.
With 14 weekly calls at the ports of Beirut and Tripoli, the Group has a strategic presence in the country and offers end-to-end logistics services, ensuring optimal and efficient solutions to its customers. The new acquisition aligns CMA CGM more closely with its Lebanese importing and exporting customers.
Joseph DAKKAK, General Manager of CMA CGM Lebanon stated: "Port activity is at the heart of the maritime and logistics strategy of CMA CGM Group, with around 50 ports managed around the world. The Group has a strategic presence in Lebanon, handling more than 50% of the volumes of the two national ports, Beirut and Tripoli.
The Port of Tripoli already receives 5 weekly lines from the Group, including a direct line from China, and two others connecting the Port to Arab markets. Through this acquisition, CMA CGM demonstrates once again its commitment and support to the Lebanese economy."
CMA CGM press release