Cgm Sa News

The crippling ransomware attack against the Colonial oil pipeline in the U.S. in May 2021 should be a wake up call for the maritime industry. As a critical part of the global supply chain, the shipping industry could become an attractive target for cyber criminals and politically motivated attacks. Marine insurer Allianz Global Corporate & Specialty explores these challenges in its latest Safety & Shipping Review 2021.The 9,000km long Colonial Pipeline, which connects some 30 oil refineries and nearly 300 fuel distribution terminals…

Seaspan Corporation said it has accepted delivery of the CMA CGM Cochin, a 10,000 TEU containership that will commence a fixed rate time charter with CMA CGM S.A. for a three year term with an option to extend for an additional three years.The new containership, which was constructed at Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd. and Jiangsu New Yangzi Shipbuilding Co., Ltd., is the second in a series of four 10,000 TEU vessels under time charter to CMA CGM that are scheduled to deliver in the first half of 2018.

Global Cargo Shipping Market is expected to grow around 3.45% CAGR during the period 2017 to 2023, says a report by Market Research Future. In recent years, Global Cargo Shipping Market has advanced rather productively. While, increasing number of countries forging of free trade agreements like ASEAN Free Trade Area (AFTA), Trans-Pacific Strategic Economic Partnership (TPSEP) and North American Free Trade Agreement (NAFTA) will boost the growth of cargo shipping market further. In addition, the market is gaining momentum with initiatives such as the One Belt, One Road, as well as the expanded Panama Canal and Suez Canal are expected to positively affect the seaborne trade by generating business opportunities. The key players of the Global Cargo Shipping Market are A.P.

Diana Containerships has announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with CMA CGM S.A., Marseille, for one of its Post-Panamax container vessels, the m/v Rotterdam.    The gross charter rate is US$6,890 per day, minus a 3.5% commission paid to third parties, for a period of minimum eight (8) months to maximum eleven (11) months. The charter is expected to commence on March 7, 2017.   The “Rotterdam” is a 6,494 TEU container vessel built in 2008.   This employment is anticipated to generate approximately US$1.65 million of gross revenue for the minimum scheduled period of the time charter.   Diana Containerships Inc.’s fleet currently consists of 12 container vessels (6 Post-Panamax and 6 Panamax

Chinese conglomerate Cosco Group is in talks to acquire smaller rival Hong Kong-based rival Orient Overseas Container Line Co. ( OOCL), Chinese media outlet Caixin reported quoting people familiar with the matter. The state-owned China COSCO  will compete with Evergreen Marine Corp. from Taiwan and France’s CMA-CGM SA in the takeover bid, but COSCO was more likely to win the deal, a source from COSCO told Caixin. A representative at COSCO Shipping's media relations department said the company wasn't aware of the bidding. However, the shares of OOCL surged the most in five years on Wednesday on the Hong Kong stock exchange following the reports.

The government of South Korea has decided to help Hyundai Merchant Marine (HMM), the nation’s only major shipping line, grow into a mega shipper by all means available, reports Business Korea. The state plans to provide loans of up to 6.5 trillion won (US$5.68 billion) to domestic shipping firms, including HMM, so that they can grow in size and survive in the global chicken game. The government has  announced plans to raise the competitiveness of the shipbuilding and shipping industries. The plans were focused on enlarging HMM, which is actually the only one global shipping company from the nation, in order to boost its competitiveness in the global market.

CMA CGM S.A has crossed the compulsory acquisition ownership threshold in Neptune Orient Lines Limited (NOL). Following its all-cash voluntary conditional general offer (Offer) for NOL which was launched on June 6th, 2016, CMA CGM now owns 2,376,715,557 shares representing approximately 91.28% of NOL’s share capital. CMA CGM confirms that it intends to exercise its rights of compulsory acquisition to compulsorily acquire all the NOL shares held by NOL shareholders who have not accepted the Offer, at a price equal to the Offer Price of SGD1.30, in accordance with the Companies Act (Chapter 50 of Singapore). CMA CGM will therefore exercise its rights to compulsorily acquire the remaining NOL shares as soon as practicable after the close of the Offer.

Container shipper CMA CGM S.A. has crossed the 90 percent ownership threshold in Neptune Orient Lines Limited (NOL), enabling it to bring the Singapore company private. Following its all-cash voluntary conditional general offer (Offer) for NOL which was launched on June 6, 2016, CMA CGM now owns 2,361,044,044 shares representing approximately 90.68 percent of NOL’s share capital. With the public float of NOL shares now falling below the minimum threshold of 10 percent, the Singapore Exchange Securities Trading Limited (SGX-ST) may suspend the trading of NOL shares at the close of the Offer. In the event of a trading suspension, CMA CGM does not intend to take steps for the suspension to be lifted. In addition, CMA CGM intends to have NOL delisted from the Main Board of the SGX-ST.

CMA CGM S.A. (CMA CGM) and PSA Singapore Terminals Pte. Ltd. (PSA) will form a joint venture company CMA CGM-PSA Lion Terminal Pte. Ltd. (CPLT) to operate and use four mega container berths at Pasir Panjang Terminal Phases 3 and 4 in Singapore. CPLT will start operations from the second half of 2016, and allow CMA CGM and its shipping line affiliates to leverage industry-leading port infrastructure and technologies at this latest Pasir Panjang expansion, which has the capacity and scale of operations to better serve mega vessels in the region. CPLT will provide long-term terminal services to CMA CGM and its shipping line affiliates hence securing best-in-class services for its fleet.

Following the satisfaction and waiver (as the case may be) of the conditions set forth in the pre-conditional offer announcement dated 7 December 2015, CMA CGM S.A. (CMA CGM), announced its firm intention to make an all-cash voluntary conditional general offer (Offer) for all the outstanding shares of Neptune Orient Lines Limited (NOL), other than those it already owns, controls or has agreed to acquire. The Offer Price is SGD 1.30 in cash per NOL share, which CMA CGM does not intend to increase. Further details of the Offer are set out in the Offer Announcement dated 30 May 2016, and will be set out in the Composite Document, which will comprise the Offer document and NOL's circular to its shareholders…

CMA CGM S.A. (CMA CGM), a global leader in container shipping, announces that it has received today confirmation that its pending acquisition of Neptune Orient Lines (NOL), Southeast Asia’s largest container shipping company (SGX: N03), has been cleared by the Anti-monopoly Bureau of the Chinese Ministry of Commerce (MOFCOM). With regulatory approvals now received from MOFCOM and the European Commission on its proposed voluntary general cash offer for NOL as announced on 7 December 2015 (Offer), CMA CGM expects to announce the Offer by June 2, 2016 (before 7 a.m.) at the latest. For more information about the proposed transaction, please visit the dedicated website www.ccn-web.com.

French shipping line CMA CGM SA will no longer run the mega containership Benjamin Franklin between Asia and the U.S. West Coast, on account of weak market conditions, reports FT. According to sources, Benjamin Franklin’s voyages have been suspended on the route between Asia and U.S. West Coast ports including Los Angeles, Long Beach, Oakland and Seattle, after just five months amid an industry slump that has seen shipping lines’ earnings plummet. The largest containership to call at a U.S. port when it stopped in Los Angeles in December, Benjamin Franklin, which is 398 meters long and can carry 18,000 20-foot equivalent units (TEUs) of containers, required 56 hours, nine cranes and 11,200 container moves to unload the vessel.

Fragmented sector chasing alliances to cut costs; Maersk has plenty of cash for deals - CEO. A.P. Moller-Maersk returned to profit at its main container shipping business in the first quarter, putting the cash rich company in a strong position as the struggling industry consolidates. The group's shares were up by 5.6 percent at 1127 GMT on Wednesday after Maersk Line confounded expectations of a loss at the container shipping business as the sector grapples with a downturn brought on by overcapacity. Rates for shipping containers transporting anything from flat-screen TVs to sportswear have been at a loss-making level for more than a year, denting profits and opening the highly fragmented sector to consolidation in an effort to cut costs and build scale.

China COSCO Shipping Corp Ltd and three partners, including France's CMA CGM SA, announced a new shipping partnership, OCEAN Alliance, formed to challenge 2M - the world's largest container carrier alliance. Other members of the new COSCO alliance are Taiwan-based Evergreen Line and Hong Kong's Orient Overseas Container Line. The partnership, called “Ocean Alliance”, would involve a fleet of 350 container ships and in a first stage cover more than 40 services. The carriers said: "The alliance will also bring service reliability and the most efficient integration of the latest vessels in a fleet of over 350 containerships. The partners plan to begin operations in April 2017 for an initial period of five years, CMA CGM said in a statement.

China's COSCO Container Lines chose new alliance partners based on size and the value of arrangements, executives from the firm and parent China COSCO Shipping said at a press conference in Shanghai on Wednesday. The executives said four partners plan to inject 3.5 million twenty-foot equivalent units (TEU) of container capacity into the alliance. Existing alliance arrangements are due to expire at the end of this year, they said. COSCO Container Lines and France's CMA CGM SA…

According to WSJ report, deals involving Cosco, China Shipping, CMA CGM and Neptune Orient Lines to bring major changes in global shipping alliances. China Cosco Shipping and CMA CGM are hoping to form a new alliance with OOCL, Evergreen Line, and Islamic Republic of Iran Shipping Lines, according to sources in the Chinese shipping industry. According to the Alphaliner, CMA CGM and Cosco are leading efforts to create a new vessel-sharing alliance that could include Evergreen Line and OOCL and would shake up three of the four major east-west carrier groupings. CMA CGM’s plans to bring APL into the O3 Alliance once the NOL acquisition is done has put the spotlight on the G6 Alliance.

With MSC Mediterranean Shipping Company has resumed vessel operations to Iran, after services were suspended in 2012 in response to trade sanctions, Some of the world’s largest container shipping lines are pursuing business in Iran, reports WSJ. The shipping lines are planning to stop in Iran for the first time in years after the lifting of sanctions, marking a key step in the country’s return to international markets. The container ship MSC Domitille was the first, which berthed at the port Shahid Rajei after company started regular weekly loops through the southern Iranian port. MSC , the second-largest shipping line by volume, discharged 300 containers filled with food and agricultural commodities at the port in the southern Iranian city of Bandar Abbas.

Capital Product Partners L.P. a Marshall Islands master limited partnership and an international owner of modern tanker, container and drybulk vessels today announced that its board of directors has declared a cash distribution of $0.2385 per common unit for the fourth quarter of 2015 ended December 31, 2015. The fourth quarter common unit cash distribution will be paid on February 12, 2016, to unit holders of record on February 5, 2016. All vessels of Capital Product Partners are under period charters to BP Shipping Limited, Cargill International S.A., CMA-CGM S.A., Cosco Bulk Carrier Co. Ltd., CSSA S.A. (Total S.A.), Hyundai Merchant Marine Co.

The merger between China Shipping group and the Cosco Group has given rise to a mammoth company that could trigger stability and extended consolidation in the global shipping industry, says a report in the WSJ. The merger will free the two Chinese shipping groups from competing against each other at home and abroad, in an industry swamped with oversupply and depressed freight rates. The new world leader in shipping industry is likely to own 832 ships including containers, dry-bulk vessels and tankers amounting to almost $22 billion. In comparison, AP Moller Maersk owns only 262 containers ships, which have a total value of $12.3 billion according to VesselsValue.com.

China's biggest shipping line China Ocean Shipping Corporation (Coscocs) has revealed an ambitious plan to increase its container shipping capacity to hit a 2 million TEUs over the next three years, says China Daily. The company is raising the operational capacity in an effort to seize a larger slice of the cake, known as the East-West and South-North routes. Wan Min, general manager of China COSCO Shipping, said Chinese shipping companies mainly operate container shipping services on Asia-Africa and China-Southeast shipping lines, the competition will therefore focus on major shipping lines in particular Asia-Europe and Asia-America routes.

NOL Group today reported a 4Q 2015 net loss of US$77 million, an improvement of US$8 million over 4Q 2014. The Group posted a Core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of US$65 million in the quarter. Its Core EBITDA remained positive at US$39 million. On a full year basis, NOL posted a net profit of US$707 million. Excluding a one-time US$888 million gain on the sale of its logistics unit, NOL incurred a full year net loss of US$181 million, an improvement of 30% over last year. NOL’s full year core EBIT loss reduced 5% year-on-year to US$72 million. “The last quarter of 2015 was particularly difficult.

CMA CGM acquisition target Neptune Orient Lines (NOL) has made all necessary anti-trust filings and expect that the approvals will come sometime in the middle of 2016. NOL group president and chief executive Ng Yat Chung said NOL, which is being bought out by French shipping giant CMA CGM for $2.4bn, has made all necessary anti-trust filings. On 7 December 2015, CMA CGM S.A. announced a pre-conditional voluntary cash offer to acquire NOL at SGD1.30 per NOL share. The offer was subject to anti-trust clearances from the European Union, China and the US. According to Ng, the $2.4bn acquisition was still expected to be approved by the relevant regulatory bodies by mid-2016…

The need of the hour is consolidation of container ship lines order to regain profitability and to overcome financial struggles, consulting firm AlixPartners says in a new report. The report says that an increased supply of vessels, coupled with the introduction of giant ships, had met with a dwindling demand in the second half of last year resulting to overcapacity, low profitability and reduced cash flow. The shippers with “M&A on their minds need to be proactive” if they hope to reap the kind of rewards winners in consolidated industries enjoy—or to prevent becoming acquisition targets themselves, the consultants suggested, pointing to the successful consolidation of the US airline industry as a possible template to follow.