CMA CGM, Asyad Group to build a USD 400 mn logistics terminal at Sohar

CMA CGM and Oman’s Asyad Group are putting USD 400 mn into a multipurpose logistics terminal in Sohar, according to a statement. The framework agreement, signed during Sultan Haitham bin Tariq’s state visit to France, has the two companies jointly developing, managing, and operating the facility.

Why it matters: Hormuz transits have picked up since the initial US-Iran peace agreement earlier this month, but they’re far from secure — tit-for-tat strikes have kept the strait’s risk premium alive, and CMA CGM still has 10 ships stuck inside the Gulf, even after its Galapagos vessel made it out on Sunday. Chairman and CEO Rodolphe Saadé said the terminal will give the group reliable inland access to key trade corridors.

The scale on Asyad’s side is real: The group already runs logistics operations across 76 cities in 24 countries, manages a fleet of more than 100 vessels touching over 200 ports, plus a portfolio of ports and freezones it operates directly.