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 an…