New Contract for Latakia Port Terminal Operation

Syria has signed a new agreement with CMA CGM to manage the Latakia port terminal, with updated terms including revenue distribution and contract length. The deal aims to enhance Syria's main maritime gateway following a recent leadership change. The contract extends CMA CGM's involvement initiated in 2009.

Syria has secured a new contract with the French shipping giant CMA CGM to operate the container terminal at Latakia port. The agreement introduces fresh terms and includes settling all outstanding dues, according to Syria's General Authority for Land and Sea Ports. However, CMA CGM has yet to comment on the announcement.

A source familiar with the negotiations revealed to Reuters that the revised contract covers changes in revenue distribution and a shorter lease period. Technical upgrades such as a new ship deck are also part of the agreement, which aims to modernize Syria's primary maritime gateway.

Latakia port plays a crucial role in Syria's maritime logistics. Managed by CMA CGM since 2009, the port's contract was last extended in 2024 for an additional 30-year term under former leader Bashar al-Assad, who recently lost power. The Saade family, with Syrian roots, controls CMA CGM, signifying deep connections to the region.

(With inputs from agencies.)