Over 700 Barges Stranded by Mississippi River Closure in Memphis Due to Bridge Crack
The U.S. Coast Guard said 44 vessels with a total of 709 barges are now in the queue as a 1-miles stretch of the Mississippi River remains closed after a...
Today’s ship photo of the day is of the CMA CGM Orfeo, a 10,000 TEUs containership that today symbolized the commercial relations between France and China.
The MV CMA CGM Orfeo was berthed today in front of CMA CGM’s headquarters in Marseille, France, where Group welcomed China Prime Minister Mr. Li Keqiang, France Minister of Foreign Affairs Mr. Laurent Fabius, the Minister of State for Foreign Trade Mr. Matthias Fekl and an important Chinese ministerial delegation, for the signing of two major economic agreements.
The first was a partnership agreement between China Merchants (CMHI) and CMA CGM Group to develop the strategic “One Belt, One Road” project, a high profile strategy initiated by the Chinese government to develop infrastructure and ports-related logistics projects that will help boost trade. The CMA CGM Group is the first company to sign such an agreement with a Chinese company for this strategic project.
For the second agreement, CMA CGM and the Export-Import Bank of China (CEXIM) signed a framework agreement on financing solutions for a total of up to USD $1 billion in the form of loans and/or export credit insurance, which would be available for the future vessels and containers the group may order in China.
Commenting on the agreements, Jacques R. Saadé, Founder, Chairman and Chief Executive Officer of CMA CGM Group said:
“July 1st will be a milestone in our Group’s history. The Chinese Prime Minister’s visit is a great recognition of the unique links our Group has developed with China, a strategic country in the Group’s development history. We are proud of the honor and of the confidence that this visit demonstrates.”
More on today’s agreements can be found HERE.
Join the 68,554 members that receive our newsletter.
Have a news tip? Let us know.