Terminal Link News

CMA CGM said on Thursday it has completed the sale of stakes in eight port terminals for $815 million to its joint venture with China Merchants Port Group.Late last year, CMA CGM reached a deal with China Merchants to sell stakes in 10 port terminals to the companies' Terminal Link venture for $968 million, as part of efforts by CMA CGM to finance its acquisition of Swiss-based CEVA Logistics and reduce group debt.The first eight terminals included in the transaction are Odessa Terminal (Ukraine)…

CMA CGM said on Friday it had finalized an agreement with China Merchants Port Holdings Co.

French container shipping giant  CMA CGM plans to sell selected port terminals, ships and other assets to raise roughly $2 billion to finance its acquisition of CEVA Logistics, according to Reuters.Chinese state-owned conglomerate China Merchants Port has entered into a Memorandum of Agreement (MOA) with CMA CGM to acquire interests in a portfolio of 10 terminals from the French container line and its affiliates via Terminal Link for a total consideration of $955 million.As part of the deal, China Merchants Port will buy as much as $468 million of convertible bonds issued by the joint venture, Terminal Link, and will loan as much as $500 million to CMA CGM.CMA CGM is also raising about $860 million from a ship sale and lease-back deal.

Kingston Freeport Terminal Ltd (KFTL), a Jamaican consortium formed by French global terminals operator CMA CGM and its majority-owned subsidiary Terminal Link, said it recorded the best performance ever in the history of the port of Kingston in terms of container moves.Kingston Freeport, which has leased Kingston Container Terminal, KCT, under a 30-year concession, said a total of 3,304 moves were handled within 24 hours of operation on the Post-Panamax vessel Cosco Beijing, which arrived at the terminal on January 24. That included 1,464 containers being unloaded and another 1,840 reloaded on to the vessel.KFTL achieved an average crane productivity of 36 moves per hour and average berth performance of 136 moves per hour with only four (4) gantry cranes working on the mainliner.

Kalmar, part of Cargotec, has been awarded a contract to heighten four ZPMC ship-to-shore (STS) cranes operated by Generale de Manutention Portuaire (GMP), a joint venture between DP World and Terminal Link (CMA-CGM), located in the port of Le Havre.The order was booked in Cargotec's 2018 second quarter order intake, and the project is scheduled to commence in the 3rd quarter of 2018.Guy Sansone, Technical Director, GMP: "The decision to partner with Kalmar was placed mainly because of their proven track record and the technical expertise of their dedicated crane upgrades team. Extending the capabilities of our STS cranes through heightening…

Greece concluded the sale of 67 percent stake in Thessaloniki port, the country's second-largest, to a German-led consortium, its privatisations agency (HRADF) said on Friday. Deutsche Invest and its partners, France's Terminal Link SAS and Cyprus-based Belterra Investments, signed the deal in December. The sale is part of a privatisation scheme Greece has agreed under its latest international bailout. The deal is worth 1.1 billion euros, HRADF said, and the consortium has already…

German private equity firm Deutsche Invest Equity Partners was the highest bidder for a majority stake in Greece's Thessaloniki Port with an offer of 231.9 million euros ($251.8 million), privatisation agency HRADF said on Monday. The sale is a key part of the country's international bailout signed in 2015 and comes less than a year after China's COSCO Shipping bought a 51 percent stake in Piraeus Port, Greece's biggest, for 280.5 million euros. The bid for Greece's second-largest port by Deutsche Invest Equity Partners…

Greece received three improved binding financial bids for a majority stake in Thessaloniki Port , its second-largest, the country's privatisation agency (HRADF) said on Friday. Last month HRADF got three bids for a 67 percent stake in Thessaloniki Port. The bids were submitted by Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners, jointly with France's Terminal Link SAS. After unsealing the financial offers this month, HRADF asked the suitors to improve them by April 21. The improved offers will be unsealed at a board meeting on April 24, HRADF said. The current market value of the stake on sale is 138.8 million euros.

Hellenic Republic Asset Development Fund (HRADF) asked for improved financial bids from short-listed investors seeking to buy a majority stake in its second-largest port, reports Reuters. Greece’s privatization agency (TAIPED) got three offers last month for the sale of a 67 percent stake in Thessaloniki Port, which is required as part of Greece’s international bailout. The investors are Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners, which is bidding jointly with France’s Terminal Link SAS. The preferred…

Greece's privatisation agency (HRADF) asked on Friday for improved financial bids from shortlisted investors seeking to buy a majority stake in its second-largest port. Athens got last month three offers for the sale of a 67 percent stake in Thessaloniki Port, which is required as part of its international bailout. The investors are Philippines-based International Container Terminal Services (ICTS), Dubai-based P&O Steam Navigation Company (DP World) and German private equity firm Deutsche Invest Equity Partners which is bidding jointly with France's Terminal Link SAS. (Reporting by Angeliki Koutantou)

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.

Industrial cooperation is high on the agenda during Premier Li Keqiang's stay in France. China's deals with the world's third largest container shipping group - CMA CGM was highlight. "July 1st will be a milestone in our Group’s history. The Chinese Prime Minister’s visit is a great recognition of the unique links our Group has developed with China, a strategic country in the Group’s development history. Those two agreements signature reinforces those links and offer new perspectives. We are proud of the honor and of the confidence that this visit demonstrates," said Jacques R. Saadé, Founder, Chairman and Chief Executive Officer of CMA CGM Group. Two major agreements were signed by   Jacques R.

French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth in volume and significantly reduced costs. Consolidated operating revenue for the company increased by 5.3% in 2014, compared with the previous year, to $16.7bn on an 8.1% volume increase to 12.2m teu, which CMA CGM said was mainly attributable to east-west gains. Volumes carried rose by 8.1% year on year (y/y) to 12.2 million teu and revenues increased 5.3% to USD16.7 billion. However, but core EBIT (earnings before interest and tax) surged 28.8% to USD973 million. The result…

Two of China's largest port operators and engineering firms have agreed to invest in a $601 million terminal in Sri Lanka's Hambantota port, part of a series of deals signed during a visit by President Xi Jinping to the island nation. Keen to establish its presence in the Indian Ocean, China has spent millions of dollars building ports and roads across the region in a strategy dubbed the String of Pearls. China Merchants Holdings said in a statement late on Tuesday that it and China Harbour Engineering Company (CHEC), a subsidiary of China Communications Construction Group , had entered a joint venture with the Sri Lanka Ports Authority to develop and operate a container terminal for the Hambantota Port Development.

The Board of Directors of CMA CGM Group, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2014. In the second quarter, in a market environment shaped by diverging developments in different regions, CMA CGM reported its consolidated revenue amounted to $4.2 billion, up 3.7% year-on-year, volumes carried increased by 8% to 3.1 million TEUs, and average revenue per TEU decreased by 3.9% over the period.

The Board of Directors of France’s CMA CGM, the world’s third largest container shipping company, met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the year ended December 31, 2013. “In 2013, in a difficult market, we successfully reduced our costs while increasing our volumes carried much faster than the market, enabling us to report one of the industry’s best financial performances, “Saadé, said. “In this way, year after year, we are reinforcing our position as the world’s third largest container shipping company.

Moody's Investors Service has upgraded CMA CGM S.A.'s corporate family rating (CFR) to B2 from B3 and the company's probability of default rating to B2-PD from B3-PD. Concurrently, the rating agency has upgraded to Caa1 (LGD5/84) from Caa2 (LGD5/80) CMA CGM's EUR325 million and $475 million worth of senior unsecured notes maturing in 2019 and 2017, respectively. The outlook on the ratings is stable. "We have upgraded CMA CGM's rating to B2 to recognize the return of the company…

The Board of Directors of France’s CMA CGM container shipping group met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter 2013. In the second quarter, consolidated revenue amounted to $4 billion, up 5.6% over the first quarter and down 2.4% year-on-year. The year-on-year decline reflected a 6.9% increase in volumes carried, to 2.9 million TEUs, even as the Group’s average freight rate shrank 8.6% over the period, amid an even sharper contraction in the industry as a whole. During the period, CMA CGM reported $418 million in consolidated EBIT, up 7% year-on-year.

China Merchants Holdings (International) Company recently held its AGM in Hong Kong and the Vice-Chairman predicted figures in the company's container terminal operation interests. The Company's Vice Chairman Li Jianhong, Managing Director Hu Jianhua, Deputy Managing Director Zheng Shaoping and Deputy General Manager & CFO Zhang Rizhong were interviewed by journalists after the AGM. Mr. Li Jianhong said: "This year from January to May, the company's container throughput growth is higher in north than south. The Mainland China and overseas overall growth is 9.2%.

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…

The CLIP Container terminal at Swarzedz (near Poznan), Poland has joined InlandLinks, the hinterland container terminal link-up. Rotterdam expects to see container flows triple in the next 25 years. Due to the growth in world trade, the favourable geographic location and the increase in very large container ships, each with a capacity in the region of 20,000 units. Of the total of some 30 million TEU handled in 2035, approx. 2 million are expected to be shipped in and out using smaller vessels from and to European ports. Some 18 million TEU will travel to and from the hinterland via intermodal transport. This Polish addion brings the total number of terminals to 35: 27 in the Netherlands, 4 in Germany, 3 in Belgium and 1 in Poland.

The Board of Directors of France’s CMA CGM met under the chairmanship of Jacques R. Saadé, Chairman and Chief Executive Officer, to review the financial statements for the year ended 31 December 2012. Consolidated revenue rose by 7% in 2012, to $15.9 billion from $14.9 billion in 2011, led by the 6% growth in volumes carried, to 10.6 million TEUs from 10.0 million in 2011. During the year, CMA CGM implemented its action plan, generating a reported $800 million savings, well ahead of the initial target. As a result, EBITDA improved by a sharp 82% year-on-year to $ 1,324 million, for an operating margin (EBIT) of 6.3%, the industry’s highest (as yet announced). Consolidated net profit stood at $361 million for the year. Signing of the sale of 49% of Terminal Link for € 400m.