Farid Salem News

French container transportation and shipping giant appointed its Chairman and CEO Rodolph Saade as the new chariman of Swiss third-party logistics provider CEVA Logistics, thus asserting its near-full control over CEVA.Nicolas Sartini, who currently holds the position of Group Chief Operating Officer and Deputy CEO of CEVA is appointed Chief Executive Officer as from June 1st. He will bring his experience and expertise to CEVA as it embarks on a new journey. He will replace Xavier Urbain who will become Executive Advisor to Rodolphe Saadé.Marvin O. Schlanger, Victor Balli, Dr. Rosalind Rivaz and John F. Smith did not stand for re-election. Rolf Watter, Daniel Hurstel and Emanuel R. Pearlman were re-elected for a one-year term of office until the AGM 2020.

Rodolphe Saadé is the new chief executive of container shipping line CMA CGM, taking over the role previously held by his 80-year-old father. The top spot at CMA CGM Group has been passed from one generation to another. Jacques Saadé announced on his 80th birthday that his son Rodolphe Saadé would take over as the French shipping line’s next chief executive officer. Jacques Saadé, who founded the company 1978, will remain chairman of the board of directors. Previously executive officer, Rodolphe Saadé has been with CMA CGM since 1994.

Cosco Shipping Ports  has signed a memorandum of understanding (MOU) with CMA Terminals Holding in Shanghai. The two parties have agreed to seek cooperation in ports worldwide and preference will be given to ports that the Ocean Alliance calls. Meanwhile, both sides have also agreed to provide support in terms of business and service to the ports that the other side has already invested. Zhang Wei, Vice Chairman and Managing Director of Cosco Shipping  Ports and Farid Salem, Executive Officer of CMA CGM Group signed the MOU in the presence of  Huang Xiaowen, Deputy General Manager of China Cosco Shipping  Corporation Limited and Chairman of Cosco Shipping Ports…

CMA CGM and ENGIE signed a Memorandum of Understanding to promote LNG as the marine fuel for tomorrow’s container vessels. Farid Salem, Executive Officer of the CMA CGM Group, and Isabelle Kocher, CEO of ENGIE, signed the agreement today at the Marseille headquarters of CMA CGM. * A study about the development of engineering specifications for a bunkering vessel adapted to LNG powered container ships, so as to improve over time the logistics chain necessary to fueling this type of vessels, thus promoting their deployment. "We are most pleased with this cooperation with CMA CGM, which is a leader of maritime transport at the international level," said Isabelle Kocher CEO of ENGIE. "For ENGIE, natural gas is a key element in the energy transition.

Shipping group CMA CGM announced that the 18,000 TEU capacity CMA CGM Benjamin Franklin, the largest vessel ever to call the United States, will be inaugurated today in Long Beach, Calif. in the presence of Jacques R. Saadé, CMA CGM Chairman and Chief Executive Officer. The inauguration will gather more than 600 American figures from economic, industrial, institutional and political backgrounds. Alongside Jacques R. Saadé, a large CMA CGM delegation came especially for the occasion…

CMA Terminals, 100% subsidiary of the CMA CGM Group, and ICTSI announced their future cooperation in Nigeria by signing a deal for ICTSI to sell 25% of the container terminal in Nigeria, Lekki International Container Terminal Services LFTZ Enterprise (LICTSLE) to CMA Terminals. This adds one further milestone since the signing of the subconcession for the terminal in 2012. LICTSLE will be providing a solution to current congestion for the local market in Nigeria and overall serve as regional transshipment hub in West Africa allowing the countries connected with the hub to grow sustainably. With a straight-line quay of 1,200m and a yard area of 66 hectares…

China Merchants Holdings (International) announce completed acquisition of a 49% stake in container port operators Terminal Link from CMA CGM. "The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates," reflects the recognition and consent to the transaction from the governments from whose regulatory units consents and approvals were obtained. "The smooth completion of this transaction,"China Merchants Group Assistant President & CMHI Managing Director Dr Hu Jianhua indicates…

China Merchants Holdings (International) Company Limited (CMHI) and CMA CGM are pleased to announce the completion on June 11, 2013 of the sale and purchase of the 49% equity stake in Terminal Link, upon the obtaining of all consents and approvals in various jurisdictions and the completion of certain pre-closing corporate reorganizations as stipulated under the terms of the Acquisition Agreement. CMHI's intention to acquire from CMA CGM 49% equity interest in Terminal Link for €400 million was announced earlier in January. The Completion was formalised by the signing by both parties of a Shareholders Agreement. Among the many guests attended the signing ceremony in Luxembourg of the Shareholders Agreement were CMA CGM Executive Officer Farid Salem…

In January 2013, the Group-owned CMA CGM fleet was rewarded by state ports (Port State Control), the highest score for its fleet in recognition of the fleet’s compliance with international regulations regarding safety at sea, technical / regulatory compliance and pollution prevention. For this ranking, port national authorities verify the state of vessels, the level of maintenance, the quality of the crew, procedures in place for the management of safety and pollution. Since 2010, vessels are controlled by a rating implemented by the “Paris Memorandum of Understanding”, one of the strictest in the world. In case of poor performance, vessels and/or companies are subject to stricter and more frequent controls that can lead to detentions and bans.

CMA CGM, the world’s third-largest container shipping line, purchases a stake in the Port of Long Beach’s Pier J. The deal will bring an additional 2.6 million container units to the Port and increase Port revenues by about $70 million over the next five years. The investment makes the Marseille, France-based ocean carrier a partner in the lease and operations of the 256-acre terminal. It also marks CMA CGM’s first investment in a port on the West Coast of North America and guarantees that its ships will call exclusively at the Port of Long Beach when using the San Pedro Bay gateway.

CMA CGM announced that an agreement was reached with its financial partners leading to the allowance of a 500 million dollar credit line, payable to the Group in January 2010. This important step will enable the Group to pursue the current talks regarding its debt restructuring and a capital increase planned for the 2nd half of 2010 with the arrival of new investors. In addition, the agreement with the financial partners is expected to facilitate ongoing discussions with the Korean shipyards concerning the cancellation or the postponement of ships on order. At the same time, the Group has called an Extraordinary Shareholders Meeting on December 23rd to approve changes in the company’s legal structure with the creation of a Board of Directors chaired by Jacques Saadé.