French ocean carrier CMA CGM has signed a 30-year agreement with the Syrian government, which includes the development of a new berth at Latakia Port and an additional US$260 million (€230 million) investment over the course of the partnership.
The Marseille-based shipping company first began operations at Latakia’s container terminal in 2009, during the leadership of the now-ousted Bashar al-Assad. The contract was renewed in October 2024, also under Assad’s regime, for another 30 years.
However, following the December 2024 ousting of Assad, the new authorities initiated discussions on revising the deal. The amended agreement was formally signed on 1 May by officials from both CMA CGM and Syria’s port authority.
Global reports indicate that, under the new agreement, the Syrian government will receive 60% of the revenues, while CMA CGM will retain 40%.
