CMA CGM Invests $600 Million in Hai Phong Deep-Water Terminal
Shipping giant CMA CGM partners with Saigon Newport Corporation to invest $600 million in a deep-water terminal complex at Hai Phong Port.
French shipping conglomerate CMA CGM — the world's third-largest container shipping company — has signed a strategic partnership agreement with Saigon Newport Corporation (SNP) to develop a deep-water terminal complex in the Hai Phong area with total investment of $600 million.
The project includes constructing a new deep-water container berth capable of receiving vessels up to 200,000 DWT, equipped with the latest generation STS and RTG crane systems and a highly automated terminal management system.
This forms part of CMA CGM's strategy to expand its presence in the Vietnamese market — recognized as one of the fastest-growing logistics markets in Southeast Asia.
The project is expected to complete by 2028, and upon operation will increase total container handling capacity in the Hai Phong area by 1.5 million TEU annually.
