The agreement includes revised terms, mechanisms, and a resolution of outstanding financial obligations between both parties. Specific details of the contract were not disclosed.
CMA CGM has not issued any comment regarding the announcement. However, a source familiar with the negotiations revealed that discussions focused on altering revenue-sharing terms, reducing the duration of the terminal lease, and implementing technical upgrades, such as a new ship deck.
Latakia port serves as Syria’s primary maritime gateway. CMA CGM began operating the container terminal in 2009, with the contract renewed several times.
The most recent renewal was in October 2024 under the leadership of Bashar al-Assad, who was removed from power on December 8 following a rapid rebel offensive. A transitional government has since taken control.
CMA CGM, one of the world’s leading shipping groups, is owned by the Saade family, led by Franco-Lebanese billionaire Rodolphe Saade. The family has historical ties to Syria.