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CMA CGM splashes $2.3bn on Los Angeles terminal take over

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group

 

CMA CGM has acquired Fenix Marine Services (FMS), one of the largest container terminals in the Port of Los Angeles, United States of America(USA).

The $2.3bn deal ensured that CMA CGM acquired a 90% stake in FMS from private equity fund EQT Infrastructure III, making the French line the sole shareholder in the terminal.

The terminal has a capacity of around 2.5m TEU, is the third-largest in the Port of LA/Long Beach area, and has a long-term concession agreement through to 2043.

Rodolphe Saadé, Chairman and CEO of the CMA CGM Group said “In order to manage efficiently our port operations on the West Coast of the United States, we have decided to acquire Fenix Marine Services.

“Fenix Marine Services is one of the largest terminals in this country and one of its most strategic gateways. It is a key industrial facility which will significantly strengthen our position and support our rapid growth in this market.”

The ports of LA and LB have been the focus on considerable media, and more recently federal government attention, over the last year as congestion has reached record levels with vessels waiting weeks to berth, and terminals running out of yard space.

CMA CGM operates 24 services on the transpacific between Asia and the US West Coast and is one of the largest operators on the trade lane.

The FMS terminal currently has four berths and a 292-acre container yard with more than 700 reefer plugs.

CMA CGM said that it would invest to extend yard capacity in a phased approach, expand rail capacity, and construct a new berth.

Sean Pierce, CEO, and President of FMS said, “Our vision was always to deliver on operational excellence and to do things better than they have been done before.

“All employees at Fenix Marine Services, whether on the front line in Port of Los Angeles or at our back-office in Arizona, have been critical in delivering that vision. This transaction is a testament to the strength and fortitude of the team.”

Cash-rich container lines raking in huge profits in the current market are investing in the future with both acquisitions and vessels orders. This year has seen CMA CGM move into the air freight space setting up CMA CGM Air Cargo acquiring four secondhand freighters and ordering two new aircraft.

CMA CGM has been making significant investments in LNG fuelled tonnage and by early 2022 will be deploying 15,000 LNG-powered vessels between Asia and the US, calling at the FMS terminal.

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Headlines

May Day: Mobereola salutes maritime workers for passion, dedication to building virile industry 

Gloria Odion,  Maritime reporter 

The Director – General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dayo Mobereola, has saluted the courage , passion and dedication of maritime workers to building strong and virile industry.
In his message at the Workers’ day on May 1st, 2026, the NIMASA DG extolled the virtues of workers and acknowledged the distinguished service of various stakeholders whose efforts he noted continue to significantly contribute to the development of the Nigerian maritime industry.
Dr. Mobereola, while wishing stakeholders a Happy Workers’ Day said “to all the amazing officers and stakeholders in the maritime sector who bring their passion and expertise to work daily.

“Thank you for your dedication and invaluable contributions”.

He emphasized that as a regulator, the Agency remains committed to its oversight function of regulating maritime labour activities in the industry in line with extant instruments and the expectations of the theme of the 2026 Workers’ Day, which focuses on safety, dignity and productivity.

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Customs

Kaila, Seme Customs CAC, seeks collaboration with stakeholders to achieve seemless trade along border corridor 

Funso OLOJO, Editor
The new Area Controller of the Seme Command of the Nigeria Customs Service, Comptroller Abdullahi Kaila, has  reached out to traditional rulers and  sister agencies at the border communities to ensure the achievement of his mandate of detection, determent of smuggling, revenue generation and trade facilitation along the border corridor.
To achieve these objectives, Comptroller Kaila went on tour of the communities within the border corridor where he met and sought for the support and cooperation of major critical stakeholders, including the traditional rulers and sister agencies.
According to him, his objective was to eradicate trade hindrances affecting free movement of goods and services along the Lagos-Abidjan business corridor.
Speaking at the Palace of Oba Akran of Badagry Kingdom, the Customs Area Controller condoled with the royal family and entire people of Badagry kingdom on the passing away of HRM De Wheno Aholu Menu Toyi I who was a well recognized traditional ruler across the border communities.
“”The purpose of my visit is to introduce myself as the Area Controller of Seme Command and to equally seek your royal blessing and support to achieve the core mandate of the service.
“Our priority remains to generate revenue, facilitate trade, and suppress smuggling.
“And we in the Customs believe that without due support and co-operation from traditional rulers, we can not have effective performance of our functions as Customs officers” he said
 The King Regent, Chief Abel Ogunbiyi, who described Kaila as the son of the soil, added that “We have listened to your request.
” Know that Badagry is a very peaceful town, and we will keep collaborating with you in safeguarding our borders and in promoting legitimate trade, ” he stated.
Comptroller Kaila also visited the Onibereko of Ibereko Awori-Kingdom, where the monarch, Oba Israel Okoya, signifies his commitment to fostering the service relationship with residents living within the border  communities
“I welcome you to Badagry and be rest assured that I will always talk to my people whenever the need is required.
” In our town, our youth does not engage in illegalities as I have no other choice than to assist you in achieving the government mandate, ” he mentioned
While at the Palace of Alapa of Apa Kingdom, the king HRM Oba Oyekan Ajose Ilufemiloye commended and described the CAC, Comptroller Kaila as a professional, seasoned and well respected officer as described by indigenes of border communities.
“I promise you that I will always assist you in my area for anything that you need.
“Our border here has been peaceful because our youth always listen to the elders, and I know with your presence here, things will change for the better, ” he said
In his efforts to consolidate on existing synergy between sister security agencies, Kaila also visited Headquarters of 653 Nigerian Air force base, Ahanve-Badagry.
The  Commanding Officer, Group Captain Hungruy  Medugu,expressed the  readiness of the formation to always support the command in achieving its mandate.
“Our collaboration has been key to various successes we have recorded in our area of responsibility.
” Your presence here strengthens existing bonds of inter-agency collaboration between both Services, and we will not take it for granted ,” he said
The Area Controller then ended his familirisation tour with seeking for mutual cooperation with a visit to the Republic of Benin Police office, showing his readiness to eradicate hindrances affecting the free movement of goods and services across the border.
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Headlines

Opeifa decries encroachment on NRC properties across the country 

— praises collaboration with Abia, Enugu govts.
Funso OLOJO, Editor 
The Managing Director of the Nigerian Railway Corporation (NRC), Dr. Kayode Opeifa, has reiterated his displeasure over the widespread practice of encroachment on the properties of the Nigerian Railways Corporation across the country, warning that such action would not be tolerated by his administration.
Opeifa was speaking during the separate meetings he recently had with the governments of both Abia and Enugu states.
Represented by the Railway District Manager, Eastern District, Mr. Agwonye Francis Ejike, the NRC boss quickly condemned the occupation of the Corporation’s right- of – way by squatters in Umuahia, while correcting the wrongly- held belief that the Railway is defunct.
Opeifa however applauded the cordial and collaborative relationship between the Corporation and the governments of both Abia and Enugu.
According to him, such productive harmony can only yield even greater positive results for the benefit of the people.
During the Umuahia meeting, Dr. Opeifa strongly praised the Abia State Government for its crucial assistance in clearing the NRC’s right-of-way within Umuahia.
 He reiterated unequivocally that no one is permitted to build any structure on railway property without obtaining express approval from his office.
Appealing directly to the public, he urged for greater patience, stressing that the plans for the critical track extension from Aba, through Umuahia to Enugu and beyond, remain very much on course.
Responding on behalf of the Abia State Government, Mr. Kingsley Agomoh stated that the State Government is actively engaging all stakeholders by providing alternative, seamless locations for those currently conducting business on the railway right-of-way.
 He further revealed that the state government has already finalized plans to plant trees along the route, creating a leisurely and aesthetically conducive environment for relaxation, replacing previous commercial activities.
The high-powered team then embarked on an extensive inspection of the alternative relocation site for displaced persons; the demolition site where iron barrier installation is progressing; the Umuahia Central Bus Terminal; the site for the new Umuahia Railway Station; and the route for the proposed link road passing through the existing railway station.
The meeting also explored the provision of a temporary location for the Railway Police and the PTO, pending the construction of the new Umuahia Station, which is designed to include a police station and other NRC offices.
The same impactful message was delivered to Enugu State, where the Commissioner of Transportation, Dr. Obi Ozoh (representing the State Government), equally assured the NRC MD of the Enugu State Government’s unwavering commitment to collaborating with the Corporation to achieve its aims and objectives.
Describing Dr. Opeifa as a personal friend from their private sector days, Dr. Ozoh lauded him as a leader who “knows perfectly well what he is doing.”
He further assured the NRC that the Enugu State Government will actively assist in demolishing any obstruction on the Corporation’s right-of-way, stressing that the state eagerly awaits the flag-off to recommence construction of the rail line from Aba to Enugu and beyond.
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