French shipping company CMA CGM has announced an agreement to acquire a majority stake in SOFRANA Unilines, one of the key players in the South Pacific regional maritime trade. SOFRANA Unilines operates a fleet of 10 vessels on eight tradelanes, servicing 21 ports in Australia, New Zealand, Papua New Guinea and the Pacific islands. The acquisition will be made through CMA … [Read more...]
CMA CGM Signs Shipbuilding Contracts for Nine Record-Breaking 22,000 TEU Containerships
French shipping company CMA CGM has signed shipbuilding contracts for its nine 22,000 TEU Ultra Large Container Vessels (ULCVs) with state-run China State Shipbuilding Corporation (CSSC) Group. The nine vessels will be the largest containerships ever constructed. The shipbuilding contracts come on the heels of CMA CGM confirming its plan to construct the … [Read more...]
CMA CGM Confirms Order for Nine Megaships as Improving Shipping Market Lifts Profits
PARIS, Sept 15 (Reuters) - CMA CGM, the world's third-largest container shipping firm, said it expected operating profits to improve further in the second half as the market continues to recover, and confirmed an order for nine giant vessels. The announcements by French-based CMA CGM underlined a recovery in the industry this year after a prolonged downturn that sparked a … [Read more...]
When More Megaships Arrive, Will the Party Be Over for Ocean Carriers?
By Mike Wackett (The Loadstar) - At least two Asia and Europe loops will need to be closed in the fourth quarter of the year, or sailings blanked, to avoid the prospect of excess capacity throwing supply and demand out of kilter. According to new SeaIntel analysis, a capacity increase of 11.5% by the three east-west alliances between H2 2017 and H2018 will result in a weekly … [Read more...]
CMA CGM to Build World’s Largest Containerships at Chinese Yards -China Daily
SHANGHAI, Aug 23 (Reuters) - French shipping group CMA CGM plans to build nine of the world's largest container ships at two Chinese shipyards, the state-run China Daily newspaper reported on Wednesday. Shanghai Waigaoqiao Shipbuilding Co confirmed that it and its sister yard Hudong-Zhonghua Shipbuilding (Group) Co, had received a letter of intent from CMA CGM for the ships, … [Read more...]
CMA CGM Ship Order Could Send Ripples Across Tradelanes as Rates Strengthen
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...]