CMA CGM Group announces $20 billion investment in America over 4 years
Commitment will foster U.S. shipbuilding capabilities, expand port infrastructure and develop air cargo services.
CMA CGM Group announced a $20 billion investment to contribute to the U.S. maritime economy and support the transformation of America’s domestic supply chain over the next four years.
"This announcement builds on CMA CGM Group’s 35-year presence in the U.S. Today, the Group operates in 40 states and employs 15,000 Americans. As a leading partner in U.S. trade, CMA CGM transports over five million shipping containers to and from the country each year," says an official release.
Rodolphe Saadé, Chairman and CEO, CMA CGM Group
Rodolphe Saadé, Chairman and CEO, CMA CGM Group says: "I am proud to build on our long-standing relationship with the United States through this commitment of $20 billion to the country’s maritime future and logistics capabilities. Over the next four years, we will significantly grow our U.S.-flagged fleet, expand the capacity of key container ports on both coasts, develop state-of-the-art warehousing across the country and establish a significant air cargo hub in Chicago. This will create 10,000 new American jobs and further strengthen our partnership with American customers and public authorities."
As part of the new programme, CMA CGM Group will contribute to the development of American maritime capabilities through a range of targeted investments, the release added. It advances the U.S. administration’s recently-announced priority to strengthen American shipbuilding capabilities, and includes bolstering the capacity of its subsidiary American President Lines (APL), and enhancing maritime resources with new jobs, skills, and technologies. "These commitments will reinforce APL’s position as the leading carrier for U.S. government cargo transportation while also ensuring the safe, open, and reliable access to the oceans necessary to promote America’s economic and national security ambition."
The Group will also develop port infrastructure in key locations across the U.S., including New York, Los Angeles, Dutch Harbor, Houston, and Miami.
As part of the investment, CMA CGM Group will also expand American air cargo capacity. "Anchored by a new hub in Chicago, the Group will deploy five new Boeing 777 freighters, operated by American pilots, to strengthen U.S. trade and connectivity and ensure the reliable transport of critical and time-sensitive goods."
CMA CGM will open a new logistics R&D hub in Boston, focusing on advanced robotics and automation solutions, the release added.
