CMA CGM developing $600M Vietnam container terminal
The agreement covers the design, construction, and operation of the Lach Huyen terminals 7 and 8. The terminal will have a capacity of 1.9 million TEUs and is scheduled to open in 2028.
The project comes amid a sharp increase in container volumes in northern Vietnam, and will enable Marseilles-based CMA CGM to secure long-term capacity as the region sees rapid industrial and logistics development.
CMA CGM has been active in Vietnam since 1989, with offices in Ho Chi Minh City, Hanoi, Haiphong, Danang, and Quy Nhon. It operates 29 weekly services across seven ports in the country, connecting major global trade routes to an advanced intermodal network via Ceva Logistics.The carrier is co-owner of the Gemalink terminal in Cai Mep and the Vietnam International Container Terminal in Ho Chi Minh City.
Find more articles by Stuart Chirls here.
Maersk, Hapag-Lloyd partner on new Asia-Long Beach service
Maersk more than halfway through $1B stock buyback
Drewry: China-US container rates up by double digits
Savannah sees record containers amid tariff frenzy
The post CMA CGM developing $600M Vietnam container terminal appeared first on FreightWaves.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
CGTN: President Xi Jinping calls on China, EU to provide more stability, certainty for world
Chinese President Xi Jinping met with European Union leaders during their visit to Beijing for the 25th China-EU Summit on Thursday. CGTN published an article exploring China-EU relations in two-way trade and investment, emphasizing the need for both sides to embrace multilateralism, openness and cooperation to bring greater stability and certainty to the world. BEIJING, July 26, 2025 (GLOBE NEWSWIRE) -- Fifty years ago, China-Europe trade was a trickle. Now, as the two sides mark half a century of ties, a single day's trade equals what they exchanged in the entire year when relations were first established. Noting that this year marks the 50th anniversary of diplomatic ties between China and the European Union, Chinese President Xi Jinping said on Thursday that China-EU relations have come to another critical juncture in history. There are no fundamental conflicts of interest or geopolitical contradictions between China and the EU, Xi told European Council President Antonio Costa and European Commission President Ursula von der Leyen at the Great Hall of the People in Beijing. "The current challenges facing the EU do not come from China," he said, adding that the fundamentals and prevailing trend of China-EU relations featuring cooperation over competition and consensus over differences have remained constant. Xi put forward three proposals for the future of China-EU relations: both sides should uphold mutual respect and consolidate the positioning of their relations as partnership, embrace openness and cooperation while properly managing differences and frictions, and practice multilateralism and uphold international rules and order. Trade and investment At Thursday's meeting, the Chinese president said the China-EU economic and trade relationship is by nature complementary and mutually beneficial and can indeed achieve dynamic equilibrium through development. China's high-quality development and opening up will provide new opportunities and potentials for China-EU cooperation, Xi noted, calling on both sides to strengthen green and digital partnership and boost mutual investment and cooperation. In 2024, trade between China and the EU soared to $785.8 billion, an increase of over 300 times compared to when diplomatic relations began in 1975, according to China's customs authorities. Two-way investment flows have also shown sustained growth in recent years, indicating a positive trend. Chinese battery manufacturer CALB, for instance, is building a $2.2-billion plant in Sines, Portugal, expected to create 1,800 jobs. Xi expressed hope that the EU can remain open in the trade and investment market, refrain from using restrictive economic and trade tools, and foster a sound business environment for Chinese enterprises investing and operating in the EU. At the 25th China-EU summit on Thursday, both sides agreed to forge an "upgraded version" of the China-EU export control dialogue mechanism, have timely communication on each other's concerns and jointly keep the industrial and supply chains between China and Europe stable and unimpeded. Multilateralism Xi said China has always viewed and developed China-EU relations from a strategic and long-term perspective, regarded the EU as an important pole in a multipolar world and consistently supported European integration and the strategic autonomy of the EU. China-EU relations are not targeted at, subjugated to, or controlled by any third party, he said, calling on both sides to deepen strategic communication, enhance understanding and mutual trust, and foster a correct perception of each other. Pascal Lamy, the former European commissioner for trade, told CGTN that despite differences, China and the EU share crucial common ground in defending multilateralism and cooperating on global challenges like climate change, biodiversity loss and ocean protection. Among the outcomes of Thursday's summit, leaders of China and the EU issued a joint statement on climate change, highlighting their shared commitment to addressing climate change and pursuing green development. Xi underscored the importance of China and the EU as constructive forces for multilateralism, openness and cooperation, and called on both sides to provide more stability and certainty to the world. CONTACT: Email: cgtn@
CNN
32 minutes ago
- CNN
Nvidia wants Europe to catch up in the AI race
Europe has fallen behind China and the US in the development of AI capacity, producing less than 1% of the world's semiconductors needed for AI. But the EU hopes to produce 20% of the world's semiconductors by 2030. CNN's Anna Stewart spoke to Jensen Huang, CEO of Nvidia about their plans to build 20 AI factories across the continent.
Yahoo
42 minutes ago
- Yahoo
AstraZeneca's (AZN) Dividend: Resilient, Predictable, and Built on Innovation
AstraZeneca PLC (NASDAQ:AZN) is included among the Top 10 Safest Dividend Stocks in the UK. A pharmacy worker distributing prescription medicines to patientsreceiving treatment for oncology, cardiovascular, renal, metabolism and respiratory diseases. AstraZeneca PLC (NASDAQ:AZN) is well-positioned to handle upcoming patent expirations, thanks to a robust pipeline of drugs in development. By the close of the first quarter, the company had gained approval or label updates for roughly 13 treatments. Two of its most notable experimental drugs, AZD5004 and AZD6234, show potential in the weight management space. In total, the company is advancing nearly 200 research programs across its development pipeline. AstraZeneca PLC (NASDAQ:AZN) recently announced plans to invest $50 billion in the US by 2030. This initiative is expected to generate tens of thousands of direct and indirect jobs nationwide. A key part of the investment includes the development of a new multi-billion-dollar manufacturing site in the US, which will focus on producing drug substances for its weight management and metabolic treatments—such as oral GLP-1, baxdrostat, oral PCSK9, and combination small molecule therapies. This commitment comes on top of the $3.5 billion investment the company revealed in November 2024. AstraZeneca PLC (NASDAQ:AZN) is a solid dividend payer, as it has paid uninterrupted dividends to shareholders for the past 32 years. The company offers an interim dividend of $1.03 per share and has a dividend yield of 2.13%, as of July 25. While we acknowledge the potential of AZN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None.
