CMA CGM, Saigon Newport to jointly develop deep-sea terminal in northern Vietnam
France's CMA CGM Group, a global player in sea, land, air, and logistics solutions, has signed a partnership agreement with Vietnam's Saigon Newport Corporation (SNP) to develop a deep-water terminal in Hai Phong city, northern Vietnam.
CMA CGM is the world's third largest shipping company. Photo courtesy of the company.
The agreement covers the design, construction, and operation of the Lach Huyen 7&8 terminal, located in the strategically positioned Lach Huyen area, CMA CGM wrote in a release on Monday.
The terminal will have a capacity of 1.9 million TEUs and is scheduled to open in 2028, "strengthening its strategic presence in Vietnam".
The project, with total investment capital of $600 million, is designed to meet the sharp increase in container volumes in northern Vietnam, one of Southeast Asia’s fastest-growing economic zones.
"This partnership will enable CMA CGM to secure long-term capacity in a region that has become central to Asian supply chains due to its rapid industrial and logistics development," CMA CGM stated in the release.
This project reflects CMA CGM’s commitment to working with top-tier local partners, combining expertise to deliver best-in-class service to customers, and supporting a fluid, competitive supply chain, it added.
CMA CGM, the third largest shipping company in the world, has been active in Vietnam since 1989, with five offices in Ho Chi Minh City, Hanoi, Haiphong, Danang, and Quy Nhon, and a team of more than 550 employees.
The group operates 29 weekly services across seven ports in the country, connecting major global trade routes to an advanced intermodal network via CEVA Logistics.
CMA CGM is co-owner of the Gemalink terminal in Cai Mep and the Vietnam International Container Terminal in HCMC.
With stakes in 62 terminals worldwide, CMA CGM continues to expand its port operations to support the growth of its shipping lines and ensure optimal service quality for its customers, according to the company.
On March 15, 1989, Vietnam's Minister of National Defense issued a decision to establish Saigon Military Port under the Vietnam People's Navy. This is the foundation of Saigon Newport Corporation.
Over 35 years of development and growth, the corporation has become Vietnam's leading enterprise in port operation, logistics services and marine economic sectors.
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