The Port of Valencia is planning to bolster its position as the foremost European container port in the Mediterranean following recent reports of CMA CGM‘s entry in the Iberian market.
The French business has reportedly agreed to buy 49 per cent in COSCO Shipping Ports (CSP) Valencia and 38 per cent in CSP Bilbao from TPIH Iberia.
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“The European company is aligned with the values and the sustainability and decarbonisation strategy promoted by the Port Authority of Valencia (PAV),” said the port in a recent statement.
“In fact, it has the largest container ships powered by Liquefied Natural Gas (LNG), carbon footprint measurement, and a strong commitment to intermodality with the railway.”
With the arrival of the Marseille-based company, the Port of Valencia aims to consolidate its position as a world reference hub where the four major cargo and unloading companies operate, whilst reinforcing its leadership in Southern Europe.
Following the acquisition, the four major shipping companies of the world (MSC, Maersk, Cosco and CMA CGM) will have “real commitments acquired with the Port of Valencia, reinforcing the influence of the port area to attract investments and business projects to the Valencian Community,” reads the statement.
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The CSP Iberian Valencia Terminal has 2.3 kilometres of berthing line, 145 hectares of yard, its ferro-port terminal with direct connections to the dry ports of Madrid, Zaragoza and Bilbao, as well as an automatic gate system for the flow of local cargo.
It is the main container gateway for the Iberian Peninsula, in addition to the natural Port of Madrid.
Its hinterland of influence covers a radius of 350 kilometres where 55 per cent of the Spanish GDP is generated.
