Cma CGM is investing $20 billion in port and shipping projects in the United States

Cma CGM is investing $20 billion in port and shipping projects in the United States

Cma CGM has announced it will invest $20bn in the US over the next four years in maritime transport, logistics and supply chains. Cma CGM has pledged to boost U.S. shipbuilding capacity, expand port infrastructure, develop logistics networks and air cargo services.

Cma CGM transports more than 5 million containers to the United States each year, and its Presidential Steamships (APL) fleet of 10 container ships flies the American flag. In addition, CMA CGM operates terminals at the ports of New York, New Jersey and Los Angeles on the east and west coasts of the United States.

Chief Executive Rodolphe Saade told a news conference that CMA CGM is also looking at investing in container ship construction and hopes to expand the number of US-flagged ships in its fleet to 30 or more in the coming months from the current 10.

US President Donald Trump has pledged to create a new Office of shipbuilding to boost the shipbuilding industry. According to the Wall Street Journal, Trump is preparing to sign an executive order aimed at reviving the US shipbuilding industry and trying to reduce China's dominance in the global maritime industry. In a summary of the draft seen by The Wall Street Journal, the order contains 18 measures, including imposing fees on Chinese ports and ships entering U.S. ports.

Many of the previous proposals have faced months of review or an uncertain political process, but if implemented as an executive order, Mr. Trump could quickly move forward with his signature.

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