French Shipping Giant CMA CGM Announces Major Investment in US Logistics
CMA CGM has announced a significant investment of $20 billion over the next four years to enhance its logistics presence in the United States. The company plans to expand its US-flag fleet and increase capacity at key ports, marking a substantial boost to its operations in the country.
The announcement comes after a meeting between CMA CGM’s chairman and CEO Rodolphe Saadé and US President Donald Trump at the White House. This development has been made against the backdrop of heightened political sensitivity surrounding the container shipping industry in the US.
CMA CGM’s investment is seen as a major coup for the company, demonstrating its commitment to expanding its market share in the US logistics sector. The move is likely to have significant implications for the country’s trade landscape and will be closely watched by industry stakeholders and policymakers alike.
Source: https://www.joc.com/article/cma-cgm-to-invest-20-billion-in-us-shipping-ports-and-logistics-5957748