Jeddah’s capacity bet against its own crisis

CMA CGM’s $434 million wager on Jeddah’s future collides with the blockade shaping its present and the gap between them is the story.

On 26 August Red Sea Gateway Terminal and CMA CGM signed an initial US$434 million agreement to build Terminal 4 at Jeddah Islamic Port 2.6 million TEU of new annual capacity, deep-water berths for the largest containerships afloat, ten new ship-to-shore cranes.