Syria government agrees on new contract with France shipping firm to operate Latakia Port

Syria has agreed on a contract with a French shipping firm to operate its Port in Latakia, amid the new interim government’s solidification of its rule over the country.

In a statement on Wednesday by Syria’s General Authority for Land and Sea Ports, it announced that it had agreed to a new contract with French shipping and logistics group, CMA CGM, to operate Latakia Port’s container terminal.

According to Reuters news agency, which cited an unnamed Syrian source familiar with the talks, the new contract consists of updated terms and mechanisms including changes to the contract’s length and revenue distribution. The agreement also reportedly guarantees the settling of all previous dues by both sides.

Controlled by its French-Lebanese billionaire chairman, Rodolphe Saade, who reportedly has roots in Syria, CMA CGM has been managing Latakia’s container terminal since 2009, with its latest contract having been renewed in October last year while the country was still largely ruled by the  Syrian President Bashar Al-Assad.

The agreement of a new contract aligns with the new Syrian authorities’ control over the country after the former rebels’ victory on 8 December.

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