CMA CGM keeps expanding in Spain
CMA CGM is on a quest to expand its services in Spain. The latest initiatives saw the company acquiring shares of two terminals managed by Cosco Shipping Ports (CSP) Spain. More specifically, the French company now owns 49 per cent of the shares of the CSP terminal in Valencia and 38 per cent of the one in Bilbao.
The shares in both terminal are being purchased by CMA CGM from TPIH Iberia. This news comes a few days after CMA CGM launched a new rail service connecting the port of Valencia and Murcia. Both terminals can count on direct rail connections to Madrid and Zaragoza, which could be added to the company’s portfolio.
CSP Valencia and CSP Bilbao
Both terminals are located at the respective ports. The CSP Iberian Valencia Terminal extends over 145 hectares. The rail terminal is equipped with four tracks plus one suitable for 750-metre-long trains and has an annual rail capacity of 200,000 TEUs. However, the share of rail here is not enormous, since 3,5 million TEUs are handled in the terminal in total.
The CSP Iberian Bilbao Terminal, covering less than 44 hectares, is quite smaller than its Valencian counterpart, but the volumes handled by rail are similar. According to CSP Spain, the latter is equipped with four tracks suitable for 550-metre-long trains and handles roughly 180,000 TEUs via rail. Here, the modal share of rail is quite higher, since the total TEUs handled annually revolve around 900,000.