PARIS, Nov 18 (Reuters) - CMA CGM, the world's third-largest container shipping company, posted on Friday another net loss in the third quarter as freight rates remained weak and it integrated Singapore-based NOL, its biggest-ever acquisition. The sector was showing the "first signs of stabilisation" as operators adjusted capacity but freight rates remained historically low, … [Read more...]
CMA CGM Has Already Paid Down Half of NOL Takeover Loan
PARIS, Oct 20 (Reuters) - CMA CGM, the world's third-largest container shipping firm, has already reimbursed half of a $1.6 billion bank loan taken out to fund its acquisition of Singapore-based Neptune Orient Lines (NOL), the French company said on Thursday. CMA CGM announced the acquisition of NOL last December in a $2.4 billion deal that handed it market leadership on … [Read more...]
CMA CGM Passes 90% Ownership Threshold in NOL
French container shipping group CMA CGM has taken full control of Singapore's Neptune Orient Lines after crossing the 90% ownership threshold required to take the company private. CMA CGM announced Monday that it now owns 2,361,044 shares representing approximately 90.68% of NOL's share capital after launching its all-cash offer for NOL on June 6, 2016. Under Singapore … [Read more...]
CMA CGM in ‘Megaship’ Terminal Tie-Up With Singapore
French shipping company CMA CGM has formed joint venture to operate and use four megaship berths in Singapore as the company looks to expand its operations in Asia's top shipping hub following its takeover of Singapore's Neptune Orient Lines. The joint venture was formed with PSA Singapore Terminals and will start operations in the second half of this year at the newly … [Read more...]
CMA CGM to Delist NOL, But Support Singapore as Shipping Hub
PARIS, June 13 (Reuters) - French container shipping firm CMA CGM plans to delist Neptune Orient Lines (NOL) following its takeover of the Singaporean shipper, CMA CGM's vice chairman Rodolphe Saade told French daily Les Echos. CMA CGM, the world's third-largest container shipping company, said earlier this month it holds over 78 percent of NOL shares after buying Temasek … [Read more...]