CMA CGM vessel in the Port of Algeciras

The company announced a €13 million investment

The French Corporation CMA CGM announced the acquisition of TTI Algeciras, company previously owned 100% by the Korean shipping group HMM. The immediate effect of this acquisition is a considerable improvement of the facilities, on which a foreseen €13.3 million investment is expected to increase the height of five out of eight dock cranes so as to provide service to larger container carriers and to the new and future generation of megaships. Other improvements are the purchase of two new Shuttle Carriers for horizontal container transport and the option of having TOS and IT systems.

TTI Algeciras operates a terminal with a capacity of 1.6 MTEUS, with a concession surface area of 300,119 m2, a public operational area of 57,621 m2, as well as a 650-meter dock alignment and a depth of 18.5 meters. Since operations started in 2010, it accumulated a manipulated volume of 10 MTEUS until late 2019, whereas it operates 1,500 ships annually.

Source: Alimarket