CMA CGM is making a major move in Vietnam, investing $600 million to build a new deep-water terminal in Haiphong, a growing industrial hub in the country’s north.
The global shipping company has signed a partnership with Saigon Newport Corporation (SNP) to design, build, and run the new terminal. Located in Haiphong’s Lach Huyen area, the facility will be able to handle 1.9 million TEUs and is expected to open in 2028.
CMA CGM said the project is meant to keep up with the rising number of containers moving through northern Vietnam, one of the fastest-growing regions in Southeast Asia.
“This partnership will enable CMA CGM to secure long-term capacity in a region that has become central to Asian supply chains due to its rapid industrial and logistics development,” the company said in a statement.
The terminal will join CMA CGM’s existing port operations in southern Vietnam, where the company already has stakes in the Gemalink terminal in Cai Mep and the Vietnam International Container Terminal in Ho Chi Minh City.
CMA CGM has been doing business in Vietnam since 1989. It currently operates 29 weekly shipping services across seven Vietnamese ports and employs more than 550 people in the country. Its intermodal network is supported by its logistics arm, CEVA Logistics.
Vietnam’s role in global trade has been growing as more companies shift manufacturing out of China. In April, the country saw exports to the U.S. jump 34%, while imports from China also rose by over 22%. Those trends are drawing more attention from global shipping and logistics players.
The new terminal isn’t CMA CGM’s only investment in the region. The company also plans to launch a 100% electric barge in 2026 to move Nike products along southern Vietnam’s Dong Nai River between Cai Mep and Binh Duong.