CMA CGM, MTC form venture for HoustonÆs Bayport container terminal
French ocean carrier CMA CGM, due to be the first user of the new Bayport container terminal at the Port of Houston, has established a joint venture with Marine Terminals Corp. to provide services at Phase 1 of the $1.2 billion project, due to start operations in a week or so.
The joint venture, Terminal Link Texas, will provide stevedoring services, operate and manage a container depot, perform maintenance and repair operations, and provide chassis storage on behalf of CMA CGM.
CMA CGM, the third-largest ocean carrier in terms of vessel capacity, is diverting its cargo from Houston's Barbours Cut terminal to Bayport, which will have an annual capacity of 2.3 million TEUs when fully completed.
Marine Terminals Corp. President and Chief Executive Officer Doug Tilden said, 'We've been focusing on the western Gulf for several years and are pleased to become established in this important region.'
In a separate development, MTC Holdings, has moved its headquarters back to San Francisco from Oakland. The address is Three Embarcadero Center, Suite 550, San Francisco, Calif. 94111, tel: +1 415-646-8100.