CMA CGM to Acquire Containerships
As informed, CMA CGM has signed an agreement with Container Finance pursuant to which the container shipping and logistics business Containerships and Container Finance’s holdings in Multi-Link Terminals and CD Holding will become part of the CMA CGM Group.
The agreement remains subject to approval by the relevant authorities and the estimated closing is between 3-6 months, according to Containerships.
Upon closing of the transaction, Container Finance’s entire container logistics operations will integrate CMA CGM intra-regional market offering in Europe and Mediterranean area.
CMA CGM Group is already present on the intra-regional market through its subsidiaries: CNC in Intra Asia, Mercosul in Brazil, Sofrana in the Pacific Islands regional maritime trade, and MacAndrews in Europe.
“The acquisition of Containerships will strengthen even more the development strategy implemented by Rodolphe Saadé, CMA CGM Group’s Chairman and CEO, aimed at densifying the group’s regional network,” CMA CGM said in a statement.
Founded in 1966, Containerships is an intra-European Shortsea specialist with a presence in the Baltic market, Russia, Northern Europe, North Africa and Turkey. With a workforce of 560 people, Containerships offers a complete range of services, as well as logistics solutions by ship, truck, rail and barges.
Commenting on the recently signed agreement, Containerships said it “continues to execute its LNG strategy as planned and will launch four LNG-fuelled vessels between August 2018 and January 2019.”
Source: World Maritime News
- Fire-Ravaged Maersk Honam Reaches Gulf of Oman
- EU is One More Step Closer to Trade Agreements with Japan and Singapore
- Hapag-Lloyd Makes First-Ever Call at Prince Rupert Port in Canada
- KfW to Back Responsible Ship Recycling
- ReCAAP Warns of Abu Sayyaf Kidnapping Threat in Malaysia
- Panama Canal to Raise Maximum Draft for Neopanamax Locks
- SeaIntel: Shortage of Feeders by End of 2020
- COSCO Shipping Dismisses Another Dormant Business
- In Depth- Container Efficiency Through Cooperation
- Haiphong Container Terminal Opens for Business
- COSCO Gets Nod for OOCL Takeover in the Nick of Time
- CMA CGM FAK rates changes from North Europe and Mediterranean to the Pacific Islands
- Yang Ming Seals Charter for 10 Boxship Newbuilds
- Digital Logistics: From Trend to Norm
- China’s COSCO Shipping wins U.S. security clearance for OOIL deal.
- Hapag-Lloyd Dismisses CMA CGM Merger Reports
- CMA CGM Extends Charter for Diana Containerships’ Unit
- Green light for CMA CGM $380m investment in Ceva Logistics
- Forwarders braced for impact on trade in China retaliation to latest Trump tariffs
- Drewry, Ascent of the Charter Market Is Over
- Yilport Makes a Bid for Italian Box Terminal Concession
- Trade war sparks more capacity cuts on transpacific container trades
- Maersk Line, MSC Team Up with ZIM
- 'Overcapacity not trade wars to blame for falling demand on Asia-US east coast'
- COSCO Shipping Lines Falls Victim to Cyber Attack
- COSCO Takes Majority Stake in OOCL