by Lloyd's List

2 May 2025 (Lloyd's List) - CMA CGM has signed a new long-term deal to manage and expand the container terminal at the Syrian port of Latakia.

The Marseille-headquartered company signed a 30-year agreement with the new Syrian government, which will include developing Latakia.

The deal includes for construction of a new containership berth capable of handling the largest boxships.

The investment by CMA CGM is valued at $260m over the course of the partnership. The company has managed Latakia’s container terminal since 2009.

Under the terms of the new agreement the Syrian government will take 60% of revenues while CMA CGM will receive the remaining 40%.

The agreement was signed by Syrian President Ahmed al-Sharaa, CMA CGM’s Joseph Dakkak and Latakia port director Ahmed Mustafa in Damascus.