Zhang Xiaomu News

Sino-French Shipping Alliance In Bid For Canadian Pacific Ships

State-owned China Shipping Group has joined forces with France-based CMA CGM to bid for Canadian Pacific Ships (CP Ships), a move, experts say, which will greatly enhance the Chinese shipping giant's global network, as reported by Asia Pulse. A department official at Shanghai-based China Shipping yesterday confirmed the information, but declined to be named and offered no further comment. A division leader surnamed Zhang at CMA CGM Shanghai refused to disclose detailed information about the deal, saying the transaction is a "long-term move" by the Marseilles head office. The Sino-French alliance is leading the bid for the Canada-listed but London-headquartered CP Ships…