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CMA CGM this evening confirmed that it is set to purchase a 20% stake in German terminal operator Eurogate’s Hamburg facility.
After weeks of renewed rumours, the carrier said this evening it had signed “a term sheet to acquire a 20% stake in Eurogate Container Terminal Hamburg (CTH). The transaction is expected to be completed in the first half of 2026, subject to regulatory approvals.”
The purchase price remained undisclosed.
“I am pleased to announce this new partnership with Eurogate, which marks an important step in the development of Hamburg Port and supports its ambition to remain a major gateway for European trade,” Rodolphe Saadé, chairman and CEO of the CMA CGM Group, said.
Rumours of M&A activity involving the German stevedore and CMA CGM emerged in the summer of 2024, after Hamburg city officials, at that time weighing up an expansion to Eurogate’s CTH facility, concluded the operator could not “financially handle the project on its own and needs a shipping company partner to support the investments and guarantee cargo in the long term”.
However, by the end of last year, talks between Eurogate and CMA CGM were reportedly called off, after they failed to agree terms.
However, this July, Hamburg Port Authority (HPA) and Eurogate formally agreed to press on with the 28ha CTH expansion project, which will see a new 1km quay built, the turning basis expanded, and CTH’s annual handling capacity upped to 6m teu.
The combined infrastructure cost for the works is estimated at €1.1bn ($1.3bn) while Eurogate will commit €700m – after signing a lease agreement with HPA – in the project that will include fully automating the existing CTH terminal and equipping the new area, where Mr Saade confirmed CMA CGM’s investment would be directed.
“Through our participation, we will help enhance the terminal’s capacity, strengthen its rail connections, and support its move towards more sustainable operations.
“This reflects our confidence in Germany’s long-term competitiveness and our commitment to contributing to resilient and efficient supply chains in Europe,” he added.
According to Eurogate 50% shareholder Eurokai, volumes at the terminal reached 1.12m teu in the first half of the year, 19.3% up on the first half of 2024, and industry analyst Alphaliner believed the French carrier accounted for around 30% of its volume.
According to eeSea liner database, CMA CGM’s service portfolio at CTH comprises three Baltic feeder strings; three North Europe-Mediterranean intra-regional services; one Europe-east coast South America service; its India/Middle East EPIC service; and the Ocean Alliance’s Asia-Europe FAL3 service, which in terms of capacity is by far the terminal’s largest.
The deal will also mean that all of Hamburg’s four box facilities will have shipping line shareholders – MSC through its 49.9% stake in HHLA, while Hapag-Lloyd and Cosco hold 25% stakes in the Altenwerder and Tollerot terminals respectively.
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