January 10, 2007
Marine Terminals Corp and CMA CGM in Bayport joint venture
With the first phase of Houston's new Bayport container terminal coming on stream in January, Marine Terminals Corp. and CMA CGM have formed Terminal Link Texas.
The new joint venture will provide services at Phase I of the new facility. It will provide stevedoring, operate and manage a container depot, perform maintenance and repair operations, and provide chassis storage on behalf of CMA CGM.
The Port of Houston invested more than $1.2 billion in designing and constructing the Bayport facility. Construction commenced in 2004 on the initial 60-acre facility, which will be expanded to 110 acres within the next 12 months. CMA CGM will divert its cargo from Barbours Cut to Bayport.
"We've been focusing on the western Gulf for several years and are pleased to become established in this important region," said MTC President and CEO Doug Tilden. "The Bayport facility will be a world-class facility, serving a growing and vital region."
CMA CGM, headed by founder Jacques R. Saade, is France's largest and the world's third-largest container shipping company. With a fleet of 278 vessels, the group serves more than 350 ports worldwide. In 2005, it transported in excess of five million TEUs (twenty-foot equivalent units), for total revenues of 5.95 billion euros.
MTC Holdings' business units include San Francisco-headquartered Marine Terminals Corp., serving the U.S. West Coast since 1931, and MTC East, serving the U.S. East Coast since 2001. Combined, MTC has stevedoring and terminal operations in more than 26 West Coast locations and six East Coast ports, handling more than seven million TEUs annually as well as general, Ro Ro/Auto, refrigerated and dry bulk cargoes.