NEWS | Wednesday, 06 February 2008

Maltese government extends CMA CGM’s concession at Malta Freeport to 65 years

At an official ceremony held last Monday, the Maltese government granted CMA CGM, the world’s third largest container shipping company, an extension of its terminal concession held through its subsidiary Malta Freeport Terminals Ltd. in the port of Marsaxlokk.
CMA CGM was awarded a 30-year concession to operate and develop Malta Freeport Terminals in October 2004. Since then, the group continued to develop its presence in Malta by expanding operations, increasing its investment and creating numerous jobs.
“CMA CGM’s evident commitment prompted the Maltese authorities to extend CMA CGM’s concession to 65 years,” the French company said in a statement.
The agreement to extend the concession was signed in Malta, Austin Gatt, Minister for Investments, Industry and IT, and CMA CGM President J.R. Saadé, in a ceremony attended by Maltese Prime Minister Lawrence Gonzi.
“This agreement marks the beginning of an ambitious expansion and modernisation programme targeting the Port’s infrastructure and equipment. These developments come in response to increasing international traffic, and will enable the berthing of vessels exceeding 13,000 TEU (twenty-foot equivalent units,” CMA CGM added in its statement.
This sizeable investment programme includes important dredging works, expansion of the yard as well as installation of the most modern equipment. It will boost the Terminal’s capacity to three million TEUs and help create 500 jobs in the years to come.
The largest shipping operator in Malta with 14 weekly services, CMA CGM will continue to operate Malta Freeport as a common user facility and bolster its transhipment activities given that the port is strategically located at the crossroads of some of the world’s greatest shipping routes serving Asia, the Middle East, the Aegean, Adriatic and Black Seas along with the European Continent.
Operating a fleet of 377 vessels, including 101 company-owned, the group serves 400 ports of call around the world. In 2007 it carried over seven million TEUs.
With a presence on all continents and in 150 countries through its network of 600 agencies, the group employs 16,000 people including 4,200 in France.