by Manal Barakat, SeaNewsEditor

France’s CMA CGM has reached an agreement with Saigon Newport Corporation (SNP) to develop a state-of-the-art deep-water container terminal in Haiphong, northern Vietnam.

The £600 million investment (approximately USD 810 million) will see the construction and operation of the Lach Huyen 7 and 8 terminals.

The terminals are strategically located in a region that has become central to Asian trade networks due to its rapid industrialisation and logistical expansion.

Once operational in 2028, the new terminal will boast a capacity of 1.9 million TEU.

CMA CGM’s involvement in Vietnam stretches back to 1989. The French liner is a co-owner of the Gemalink terminal in Cai Mep and the Vietnam International Container Terminal in Ho Chi Minh City.

Currently, the company operates 29 weekly shipping routes across seven Vietnamese ports, according to a report by Shipping Telegram.

Stay ahead with the latest updates! Subscribe to our SeaNews newsletter for the most relevant information.