There are more and more indications of CMA CGM’s plans for the Eurogate terminal: Will the next investment by a major shipping company soon follow in Hamburg?
There have been rumors for over a year that the French shipping company CMA CGM is planning a cooperation with the terminal operator Eurogate in Hamburg. Now there are more and more indications.
The terminal in Waltershof is to be greatly expanded in the coming years. With the “western extension”, it will grow by 38 hectares, and the turning circle for container ships is also to be increased from 480 to 600 meters. Throughput is set to increase from the current 4 million TEU per year to 6 million TEU. Around €2 billion has been budgeted for the expansion.
As reported by the Hamburger Abendblatt newspaper, Rodolphe Saadé, CEO of CMA CGM, has met with Hamburg’s Mayor Peter Tschentscher and Senator for Economic Affairs Melanie Leonhard several times in recent weeks. Saadé also holds regular discussions with Eurokai shareholder Thomas Eckelmann, who owns 50% of the Eurogate terminal. According to the CEO, Hamburg plays a “central role in global trade”. CMA CGM will continue to expand its presence in Germany and support sustainable growth, he said. There were already indications last year that the French company would acquire a stake in the terminal.
CMA CGM’s involvement would be the second investment by a major shipping company in the Port of Hamburg. After lengthy negotiations (and protests from the opposition), the Swiss Mediterranean Shipping Company (MSC) sealed its investment in the terminal operator HHLA in November last year. The City of Hamburg continues to hold 50.1% of the shares, MSC the remaining 49.9%. The shipping company plans to increase throughput at the container terminals to 1 million TEU per year by 2031. In addition, the shipping company is providing € 450 million in equity to support necessary investments by HHLA.
CMA CGM, the world’s third-largest liner shipping company in terms of capacity, is not only active in shipping itself, but also in port operations, logistics and air freight. Among other things, it was announced in the fall that the company had invested in the British rail freight service provider Freightliner. There are also major investments and joint ventures in Slovenia, Morocco and the Arab port of Jeddah.
