GCT sells U.S. terminals to CMA CGM

GCT Global Container Terminals Inc. (GCT) has announced that it has entered into an agreement to sell its U.S.-based terminal assets to France’s CMA CGM Group, a global player in sea, land, air and logistics solutions. 

GCT currently operates two U.S. terminals: GCT New York on Staten Island, NY and GCT Bayonne in Bayonne, NJ, in the Port of New York and New Jersey. 

GCT will retain full ownership of GCT Canada and its terminals, GCT Deltaport and GCT Vanterm operating in the Port of Vancouver.

The transaction is subject to customary and required regulatory approvals and consents.

(Photo from GCT)