CMA CGM buys 10% share in Antwerp Gateway terminal

CMA CGM buys 10% share in Antwerp Gateway terminal    CMA CGM and the P&O group have signed a share purchase agreement that will give the French shipping line a 10 percent share of the newly opened Antwerp Gateway terminal. Financial details were not disclosed.
   Following the deal, the shareholders of the Antwerp Gateway terminal will be P&O Ports (42.5 percent), P&O Nedlloyd (20 percent), COSCO (20 percent), CMA CGM (10 percent) and Duisport (7.5 percent).
   P&O Ports has a 40-year concession to operate the Antwerp Gateway terminal, which was formally opened by King Albert II of Belgium Wednesday. The first phase of the three-phase development comprises 1,650 meters of quay line and an estimated capacity of 1.4 million TEUs.
   The terminal’s third phase is expected to be completed in 2010, when it will have six berths, a quay line of 2,450 meters, a draft of 17 meters and an annual handling capacity in excess of 3.5 million TEUs.
   The Antwerp Gateway terminal’s total cost of development is approximately euros 530 million ($630 million), P&O Ports said.