CMA CGM gets concession to operate Med hub in Malta

CMA CGM gets concession to operate Med hub in Malta    French carrier CMA CGM has obtained a 30-year concession from the government of Malta to operate Malta Freeport Terminals Ltd., a major Mediterranean transshipment hub of which it is the largest user.
   Malta Freeport, not to be confused with the Freeport Container Port transshipment hub in the Bahamas, handled a total box volume of more than 1.3 million TEUs in 2003. Of this total, CMA CGM accounted for 812,000 TEUs, or more than 60 percent of the port’s activity. The French shipping line had 10 calls a week by mother vessels and over 15 feeder calls per week at the Maltese terminal.
   CMA CGM said Tuesday its joint venture port company with P&O Ports, called Portsynergy, will manage terminal operations as a common user terminal.
   “A major investment program will be deployed by CMA CGM to upgrade the existing port infrastructures and improve the productivity of Malta Freeport Terminals Ltd.,” the carrier said.
   CMA CGM described the acquisition as “a major step forward” in its policy of investing in important terminals.