By Mike Wackett (The Loadstar) - CMA CGM’s potential order of up to nine 22,000 teu ultra-large container vessels (ULCVs) is sending a message to the liner industry that the freight rate war that led to the bankruptcy of Hanjin Shipping is far from over. Based on early reactions to the order news, shippers expect container lines to return to their old ways and lose … [Read more...]
CMA CGM Preparing Order for 22,000 TEU Containerships -Reports
CMA CGM is rumored to be on verge of placing a massive order for the construction of up to nine 22,000 TEU containerships, which if built would be the largest in the world. According to several reports, South Korea's Hyundai Heavy Industries is competing with a shipyard in China for the contract to build the ships. Reports say the order, which could finalized in the new few … [Read more...]
CMA CGM to Acquire Brazilian Shipping Line Mercosul from Maersk
French shipping company CMA CGM says it has reached a binding agreement with Danish rival Maersk to acquire Mercosul Line, one of the leading carriers in Brazil's domestic container shipping market. Launched in 1996 and acquired by Maersk in 2006, Mercosul Line specializes in the Brazilian domestic transport market with a fleet of four ships and 92 land based staff and 160 … [Read more...]
APL Turnaround Boosts CMA CGM Q1 Profits
By Gavin van Marle (TheLoadStar) A dramatic turnaround in the fortunes of recently acquired APL helped French carrier CMA CGM offset a slight decline in revenue and volumes in the first quarter of this year. CMA CGM said APL, acquired from the Singaporean government in a $2.4bn deal last year, had managed to post a quarterly operating profit for the first time … [Read more...]
CMA CGM Upbeat as Profits Rise Again
PARIS, May 19 (Reuters) - Container shipping line CMA CGM posted higher first-quarter profits, helped by a turnaround at recently acquired NOL, and gave an upbeat assessment for the current quarter in another sign that the shipping industry is emerging from a slump. The French-based group reported on Friday a first-quarter net profit, including Singapore-based NOL which it … [Read more...]
CMA CGM Returns to Profit in Q4
PARIS, March 10 (Reuters) - CMA CGM, the world's third-largest container line, swung back to a net profit in the fourth quarter of last year, supported by a recovery in freight rates and efficiency measures taken during a prolonged downturn in shipping, the company said. The improvement in the shipping market had continued at the start of 2017, but the sector remained … [Read more...]
CMA CGM Signs with E-Commerce Giant Alibaba
CMA CGM has followed Maersk’s lead, signing a memorandum of understanding (MoU) with the world’s largest e-commerce platform Alibaba. The agreement is for container space on its Asia-Mediterranean and Asia-Adriatic services, booked via Alibaba’s OneTouch platform. The service will allow Chinese exporters to bypass freight forwarders, using OneTouch to book space on CMA … [Read more...]