CMA CGM Commits to Modernize Syria’s Latakia Port with New 30-Year Deal
The new government of Syria and CMA CGM made official today their new agreement to operate the Latakia port, the country’s main seaport which is located on the northern Mediterranean coast. CMA CGM has operated the port for more than a decade under the regime of Bashar al-Assad.
The new government announced in February that it had reached terms with the French group for a new, much longer, management agreement, but under revised terms. During the signing ceremony today, May 1, officials emphasized that the operations would be under state supervision and that the new contract was provided without “granting any exceptional operational privileges.”
CMA CGM received a new 30-year agreement for port operations. The Syrian port authority said the new agreement “addressed a settlement of all outstanding obligation,” and provides for new terms. News reports said the Syrian state will receive 60 percent of the port’s revenues and CMA CGM will retain 40 percent. The percentage will be adjusted as the number of containers entering the country grows.
It said the company has agreed to new long-term investments in the port and its operations, Mazen Alloush, Director of Public relations for Syria’s General Authority for Land and Sea ports, told the SANA news agency that CMA CGM during the first year would invest approximately $32 million to maintain and modernize the port’s equipment. Over the next four years, CMA CGM will invest a further $230 million as part of the expansion of the port.
Among the steps planned is a new pier able to handle larger vessels. The basin will also be deepened CMA CGM’s regional director told the press.
Reports said the new deal was in recognition that CMA CGM had stood with Syria despite international sanctions in recent years. It was also pointed out that the Saadé family which owns CMA CGM has historical ties to Syria although it is now identified as being French-Lebanese.
The port has a bit of a notorious reputation under the prior regime while there are reports of sectarian violence continuing in the region. The Port of Latakia has been cited as a hotspot for the smuggling and the regional trade in illegal drugs. The port has also allegedly received shipments of Ukrainian grain stolen from Russian-occupied Crimea.
Port Canaveral Plans $500 Million Investment to Upgrade Operations
Port Canaveral located in central Florida is continuing to experience strong growth as not only the second-busiest cruise homeport, but also in its cargo operations and support of the space programs. The port mapped out a comprehensive five-year plan to expand capacity and capabilities across all aspects of its business operations which include investing upwards of $500 million in landside and waterside improvements.
Capt. John Murray, Port Canaveral CEO highlights that the “Port Canaveral Advantage” plan is a port-wide continuous improvement program that identifies near- to long-term needs for enhancements and upgrades to port assets and operations. Within a five-year planning window, the program includes large-scale, high-value critical infrastructure projects associated with new cruise ship arrivals, modernizing and expanding cargo berths and bulkheads, upgrading facilities maintenance, deploying new technologies across a spectrum of operations and renovations to the port’s recreational facilities including Jetty Park.
“These port-wide investments are designed to leverage the Port’s success to benefit communities from the Space Coast to Central Florida, and throughout the state,” said stated Capt. Murray. “Our goal and commitment are to always be the best port possible for our valued partners, guests, and visitors.”
Several cruise-related projects are about to get underway at Port Canaveral, with one of the most ambitious being the expansion of Cruise Terminal 5. The design project, awarded to BEA Architects of Miami, will increase the terminal’s size by 65 percent to accommodate larger vessels. During an estimated 16-month construction period, the cruise terminal would continue to operate without interrupting scheduled ship turns.
In addition to expanding CT-5, the port plans to enhance Cruise Terminal 10 to expand its capacity beginning with a feasibility study that is expected to be completed by June 2025. The project’s goals include expanding the terminal’s capacity to accommodate the world’s largest cruise ships up to 5,600 passengers and berthing up to 1,200 feet in length.
Exterior upgrades at Cruise Terminal 1 will begin in May 2025 and include new canopies and walkways, updated landscaping, and new lighting. These upgrades are in addition to refurbishments to the adjacent cruise parking garage with new paint, landscaping, and perimeter fencing plus gangway upgrades.
New cruise ships including the Norwegian Aqua arriving at the port in April for the first time are propelling the growth (Port Canaveral Authority)
The investment in the cruise operations comes as the port recorded its busiest month ever in March handling 925,994 passengers coming and going from the cruise ships, a 16 percent increase over last year. It was the second record month following 837,900 passengers in December 2024. For the first six months in FY 2025, the port has already handled 4.42 million passengers, and they are projecting the port will reach 8.4 million passengers for the full year up from 7.6 million last year.
One of the challenges for the port is balancing the fast growth in cruise with its commercial operations. As part of the investments, the port plans to renovate existing pier structures on the south side of the port to create additional multipurpose, multiuser berth space and improve vessel turn times. Renovations for the two north side cargo berths – North Cargo Berths 3 and 4 – are nearing completion adding 1,800 linear feet of multipurpose bulkhead space while ongoing improvements include harbor deepening and berth box dredging to accommodate larger vessels, seawall and uplands facility upgrades, and the addition of a third mobile harbor crane set to arrive later this year. Roadway improvements are also underway to improve access to and from cargo terminals, ease roadway congestion, and reduce truck wait times.
Port Canaveral also has a long-standing role in supporting America’s space program. Today, two commercial space companies, SpaceX and Blue Origin, have maritime operations at the port utilizing multiple cargo berths for their vessels' dockage and for offloading and transporting recovered launch vehicle components.
The port plans to self-fund its improvements operating without taxpayer contributions. Port Canaveral Chief Financial Officer Jeff Long reported at the recent board meeting that the port was having a “very healthy financial year so far,” in FY 2025. Approximately 84 percent of the port's operating revenue for the first six months of the FY came from cruise operations. Between October 2024 and March 2025, total operating revenues reached nearly $112 million with reports indicating passenger counts were ahead of plan and the outlook remains strong in all areas of the port’s business.
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