The world's third-largest shipping company, CMA CGM, aims to secure its influence by investing in the Port of Hamburg.
CMA CGM and Eurogate announced plans to acquire a 20 percent stake in the Eurogate terminal in Hamburg. Part of the agreement provides significant funding for the planned westward expansion of the Eurogate terminal at the Waltershof port.
The new strategy of shipping companies
CMA CGM aims to increase its handling capacity by entering the terminal business in Hamburg.
Shipping companies are pursuing such strategies to secure their access to ports. This stands out as one of the strategies adopted by many shipping companies worldwide, particularly since the COVID-19 pandemic, when ships were stuck outside ports. MSC, Cosco, Maersk, and CMA CGM have been active in the terminal sector for a long time. German shipping company Hapag-Lloyd has also recently begun investing more in international terminal networks.
Eurogate aims to use the capital it has acquired through investment for the planned modernization of its facilities and the expansion of container operations in the western section of the Port of Hamburg. Eurogate recently planned to expand its container terminal by 38 hectares and build a new quay wall over a kilometer long for container ships. The company aims to increase its current capacity of four million containers to approximately six million containers per year.
