By Mike Wackett (The Loadstar) - MacAndrews has become the latest iconic shipping name to be consigned to the history books. CMA CGM has lost no time in establishing recently acquired Finnish intra-European shortsea specialist Containerships as its sector brand, displacing its 249-year-old subsidiary. CMA CGM announced it was “pleased to announce the union of its … [Read more...]
CMA CGM Orders Ten Ultra-Large Containerships in China
CMA CGM has signed a agreement for the order of ten new ultra-large containerships with China State Shipbuilding Corporation with delivery from 2021. The new containerships will be 366 meters in length and have 15,000 TEU capacity. To comply with IMO 2020 fuel regulations, five of the ships will be powered by LNG and five will be fitted with scrubbers. CMA CGM intends … [Read more...]
CMA CGM Partners with IKEA to Test Marine Biofuel On Board Containership
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...]