CMA CGM subsidiary obtains 30-year concession of Kingston Container Terminal
THE Kingston Container Terminal (KCT), Jamaica's main transshipment port, has been divested by the government to Kingston Freeport Terminal Limited (KFTL), a local company formed as a subsidiary of global terminal operator CMA CGM Group.
The government granted KFTL a 30-year concession to operate the facility under an agreement with the Port Authority of Jamaica. The agreement calls for the immediate development and expansion of KCT, and also commits KFTL to a second phase of development to raise capacity and further deepen the access channel and basin, reported Global Trade.
When complete the terminal will offer 8,000 feet of wharf with a depth of 50 feet. The facility will be equipped with 14 gantry cranes, plus 60 straddle-carriers that will increase its annual capacity to up to 3.6 million TEU.
"With the Kingston Terminal, CMA CGM strengthens its investments in hub solutions," CMA CGM executive officer Farid Salem was quoted as saying. "Our terminals are ideally placed on global maritime routes at strategic locations."
The Kingston hub is located at the entrance of the expanded Panama Canal and at the crossroads of north/south and east/west trade lanes.
Taking into account all the ports operated by APL, which CMA CGM is about to acquire, the French shipping line will operate 33 terminals with three in development.
THE Kingston Container Terminal (KCT), Jamaica's main transshipment port, has been divested by the government to Kingston Freeport Terminal Limited (KFTL), a local company formed as a subsidiary of global terminal operator CMA CGM Group.
The government granted KFTL a 30-year concession to operate the facility under an agreement with the Port Authority of Jamaica. The agreement calls for the immediate development and expansion of KCT, and also commits KFTL to a second phase of development to raise capacity and further deepen the access channel and basin, reported Global Trade.
When complete the terminal will offer 8,000 feet of wharf with a depth of 50 feet. The facility will be equipped with 14 gantry cranes, plus 60 straddle-carriers that will increase its annual capacity to up to 3.6 million TEU.
"With the Kingston Terminal, CMA CGM strengthens its investments in hub solutions," CMA CGM executive officer Farid Salem was quoted as saying. "Our terminals are ideally placed on global maritime routes at strategic locations."
The Kingston hub is located at the entrance of the expanded Panama Canal and at the crossroads of north/south and east/west trade lanes.
Taking into account all the ports operated by APL, which CMA CGM is about to acquire, the French shipping line will operate 33 terminals with three in development.