Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Freight
Ocean
Return to: LBR Home | Freight | Ocean

CMA CGM to buy intra-European shortsea specialist Containerships

LBR Staff Writer Published 22 June 2018

CMA CGM, a French container transportation and shipping company, has signed an agreement with Container Finance to acquire intra-European shortsea specialist, Containerships, for an undisclosed sum.

Established in 1966, Containerships carries out major operations in the Baltic market, Russia, Northern Europe, North Africa and Turkey.

With around 560 employees, Containerships provides customers with a complete range of services, including logistics solutions by ship, truck, rail and barges.

CMA CGM said the Containerships’ network will efficiently complement the company and its affiliate MacAndrews’ service offering in North Europe and the Mediterranean.

Containerships is said to take delivery of four LNG-fueled vessels between August this year and January 2019.

CMA CGM is already present on the intra-regional market via its subsidiaries, including CNC in Intra Asia, Mercosul in Brazil, Sofrana in Pacific Islands and MacAndrews in Europe.

The acquired business is expected to further strengthen the development strategy implemented by CMA CGM Group’s chairman and CEO Rodolphe Saadé.

The deal is subject to approval by the relevant authorities.

In April this year, CMA CGM signed an agreement to purchase up to 25% stake in supply chain management firm Ceva Logistics.

The French firm said it is committed to assume convertible securities of Ceva, which will be valued between CHF380m ($389m) and CHF450m ($461m).

In 2007, Ceva was established through combining contract logistics business of TNT Logistics and the freight management business of Eagle Global Logistics.

With around 56,000 employees in more than 160 countries, Ceva offers supply chain solutions to the large and medium-size national and multinational companies.

The firm’s contract logistics services include warehousing, distribution and value-added services, while freight management services include air, ocean, ground and customs brokerage.

With a diversified fleet of 504 vessels, CMA CGM is said to serve more than 420 of the world's 521 commercial ports.


Image: A CMA CGM container. Photo: courtesy of CMA CGM.