CMA CGM is taking stakes in two more Spanish ports.
The French container ship giant said it has agreed to acquire 49% of CSP Valencia in the Mediterranean and 38% of CSP Bilbao in the northeast, which it describes as major facilities.
Both are operated by Cosco Shipping Ports (Spain) Holding.
The shares are being acquired from TPIH Iberia.
The terminals connect Spain with the main ports in northern Europe via the Atlantic.
CSP Bilbao has a capacity of 950,000 teu and more than 1,150 metres of quayside, while CSP Valencia — described as the main gateway to Madrid — has 3.5m teu of capacity and more than 2,300 metres of quay.
The shipowner already has terminals in Algeciras and Sevilla.
Its Mediterranean terminals will have almost 10.7m teu of capacity after the deal goes through.
Its other ports in the region include Marseilles-Fos, Tangier, Thessaloniki, Alexandria and Beirut.
The group owns equity stakes in more than 56 port terminals and projects around the world.
Last week, the owner confirmed it is taking over French peer La Meridionale and unveiled ambitious plans to revive the struggling Mediterranean ropax owner, including newbuildings.
The company said in February that it was in exclusive talks to buy the Marseilles-based passenger and freight operation from its owner, logistics company Stef.
La Meridionale, which owns four ropax vessels shuttling between Marseilles, Corsica and Morocco, will become part of CMA CGM’s new “specialised shipping operations” department.
That department includes other recent acquisitions by the sprawling French group, namely a 12% stake in separate French ropax owner Brittany Ferries, CMA CGM’s new car carrier business, as well as Neoline — a Nantes-based company developing the first sail-powered ro-ro.
