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Farid T Salem News

20 Jul 2018

CMA CGM Buys Stake in CSP Zeebrugge Terminal

(Photo: Port of Zeebrugge)

French container carrier CMA CGM announced Friday it has acquired from CHINA SHIPPING Ports Development Co. Limited, a wholly-owned subsidiary of COSCO Group, a 10 percent equity interest in CSP Zeebrugge Terminal NV, through its wholly-owned subsidiary CMA Terminals.CMA CGM is currently the major client of the Belgian container terminal and accounted for one third of CSP Zeebrugge's total throughput in 2017.COSCO SHIPPING Ports completed the acquisition of the remaining 76 percent…

23 Jan 2018

COSCO Shipping Ports, CMA CGM Ink Concession Deal with Zeebrugge Port

COSCO Shipping Ports , the world’s leading port operator, announced a signing ceremony was held today with Port of Zeebrugge in Brussels of Belgium for the concession terms of CSP Zeebrugge Terminal. The event also witnessed the signing of a Memorandum of Understanding (MoU) between the Company and CMA CGM Group, the Marseille based world’s leading shipping company and member of Ocean Alliance, for CMA’s initial investment of 10% in CSP Zeebrugge. Kris Peeters, Vice Prime Minister and Minister for Work, Economic Affairs and Consumer Affairs, responsible for Foreign Trade, said, “COSCO Shipping's decision once again proves that, with its open economy and central position in Europe, Belgium is the ideal place for logistic investments.

31 Aug 2015

CMA CGM-led Consortium Win Box Terminal Bid

The consortium formed by CMA CGM, Bolloré and CHEC won the bid process initiated by the Cameroonian government Following the bidding procedure initiated by the Cameroonian government, the consortium formed by the French companies - CMA CGM and Bolloré - and the Chinese CHEC (China Harbour Engineering Company) won the 25 years concession. The Cameroonian government has chosen a French-Chinese consortium offering all the technical and financial guarantees. It is composed of CMA CGM - a worldwide leading shipping group and international port operator - Bolloré Africa Logistics - a reference logistics operator in Africa – and the Chinese company CHECH - one of the first civil engineering and building company in the world.

07 Jul 2015

CMA CGM's OPDR Acquisition Approved by EU

The CMA CGM Group announced that the European Commission has approved its acquisition of OPDR. In order to finalize the acquisition, which was announced on November 25, 2014 by Jacques R. Saadé, founder, Chairman and Chief Executive Officer of the CMA CGM Group, the approval of Moroccan and European Union competition authorities was necessary. On June 29, the European Commission finalized the process by giving its approval without any conditions. OPDR is a sea carrier that was part of the Bernhard Schulte Group. It is specialized in short sea maritime services and door to door logistics solutions between North Europe, the Canary Islands, the Iberian Peninsula and Morocco. The company employs 200 persons in different agencies. North Europe and Morocco.

08 Apr 2015

CMA CGM Makes Jamaica its Caribbean Hub

Photo: A Gilbert Bellamy

The CMA CGM Group announced that Farid T. Salem, CMA CGM Group Executive Officer, signed on April 7, in Kingston – Jamaica, an agreement with the Port Authority of Jamaica granting the CMA CGM Group the concession of Kingston Container Terminal for 30 years. Portia Simpson Miller, Jamaica Prime Minister, and Jean-Pierre Bel, the French President François Hollande Special Representative in Latin America and the Caribbean, attended the event. With CMA CGM, Kingston becomes one of the major transshipment hub port in the Caribbean.

26 Nov 2014

CMA CGM Acquires OPDR

Photo: OPDR

The CMA CGM Group has acquired the German shipping company Oldenburg-Portugiesische Dampfschiffs-Rhederei GmbH & Co. KG (OPDR), CMA CGM founder, chairman and CEO Jacques R. Saadé announced during his visit in Hamburg, Germany on November 25. The closing of the transaction remains subject to the approval of the relevant regulatory authorities. OPDR, a shipping company owned by the Bernhard Schulte Group, specializes in short sea shipping and door-to-door logistics for North Europe, Canary Islands, the Iberian Peninsula and Morocco.

07 Jul 2014

Mundra to Get Its Fourth Container Terminal

Photo courtesy of CMA CGM

The CMA CGM Group announced that it has signed with Adani Ports and Special Economic Zone (APSEZ), India’s largest port developer and part of Adani Group, an agreement for the development of a new common user Container Terminal at Mundra Port. This will be the fourth Container Terminal in Mundra and will be a 650 meters terminal along with 27 hectares of back area capable of handling 1.3 million TEUs annually. Following this announcement, the construction phase will be initiated immediately and completion will be in a record 24 months.

05 Jul 2014

CMA CGM to partner Adani Ports for 4th Container Terminal

CMA CGM Group has announced that it has signed with Adani Ports and Special Economic Zone (APSEZ), India’s largest port developer and part of Adani Group, an agreement for the development of a new common user Container Terminal at Mundra Port. This will be the 4th Container Terminal in Mundra and will be a 650 meters terminal along with 27 hectares of back area capable of handling 1.3 million TEUs annually. Following this announcement, the construction phase will be initiated immediately and completion will be in a record 24 months. The project comprises design and construction of 650 meters jetty with a water depth of 16.5 meters. This world class terminal will initially have four units of 65 tonne capacity of Rail Mounted Quay Cranes capable of handling 18…

12 Aug 2013

New China-built Sri Lanka Container Terminal to Rival Majors

Dignitories at CICT opening ceremony: Photo credit China Merchants

The newly-opened $500 million Chinese-built Colombo terminal is situated about mid-way on the important East/West shipping route and is claimed to have facilities on a par with Singapore and Dubai. The Colombo International Container Terminal (CICT), which is 85 per cent owned by the state-run China Merchant Holdings International, is designed to handle mega ships -- a first for Sri Lanka which is aiming to become the region's shipping hub. His Excellency, Mahinda Rajapakse, the President of the Democratic Socialist Republic of Sri Lanka and Mr.

02 Feb 2011

CMA CGM, YILDIRIM $500M Equity Note, New Board

In accordance with the agreements signed on 25 November 2010 between CMA CGM Group and the Yildirim Group, CMA CGM announced that it has issued $500 million in Redeemable bonds, all of which were subscribed by the Yildirim Group. This investment enables the Group to sustainably strengthen its balance sheet and secure its investment plan, while providing additional funds to support expansion. Following the issuance, CMA CGM Group shareholders met in General Meeting and approved the new governance organization, electing as Directors Jacques R. Saadé, Rodolphe Saadé, Tanya Saadé-Zeenny, Farid T. Salem, Tristan Vieljeux, Denis Ranque and Christian Garin, as well as Robert Yüksel Yildirim, Evren Öztürk and Ercüment Erdem. At its meeting, the Board unanimously appointed Jacques R.