The logistics arm of retail giant IKEA has teamed up with French shipping group CMA CGM and others to test the use of sustainable marine bio-fuel oil on board a modern containership. The first-its-kind-test was announced Tuesday by the GoodShipping Program, a not for profit initiative seeking to decarbonize the ocean freight industry. Participants involved include IKEA … [Read more...]
CMA CGM Books Record Revenue But Soaring Oil Prices Hit Earnings
PARIS, March 1 (Reuters) - French container shipping group CMA CGM booked record revenue in 2018 as trans-Pacific goods traffic remained buoyant despite U.S.-Chinese trade tensions, but soaring oil prices cut deep into its profits, it said on Friday. The firm's 2018 volumes rose by 9.3 percent and for the first time exceeded 20 million TEUs (Twenty-foot Equivalent Units) due … [Read more...]
CMA CGM Aims for Ceva Logistics Breakeven in 2019 as it Takes Control
PARIS, Feb 12 (Reuters) - CMA CGM is aiming for Ceva Logistics to break even this year, its finance chief said on Tuesday, as the French shipping group opened a share offer to cement its control of the Swiss freight specialist. CMA CGM's public tender will offer other shareholders 30 Swiss francs ($29.75) per share, valuing Ceva at 1.67 billion francs, a price agreed after … [Read more...]
CMA CGM Launches Offer to Buy Rest of CEVA Logistics Shares
By John Miller - ZURICH, Jan 28 (Reuters) - French shipping company CMA CGM on Monday formally launched a cash offer to buy out other shareholders of Ceva Logistics, valuing the Swiss freight forwarder at $1.67 billion, a tie-up aimed at fueling growth and savings. CMA CGM holds 50.6 percent of CEVA, made up of around 33 percent of CEVA's shares, plus derivatives, according … [Read more...]
CMA CGM Signs Up for Freightos Online Booking Platform
French shipping giant CMA CGM has signed up to become the first ocean carrier listed on the online freight marketplace Freightos. CMA CGM described the move as landmark agreement that advances digitization within the global shipping industry. Under the pilot agreement, CMA CGM will offer online bookings, guaranteed pricing, and secured capacity on CMA CGM China-US trade … [Read more...]