CMA CGM gets $1bn loan from Chinese export credit bank

CMA CGM gets $1bn loan from Chinese export credit bank

Athens: French container carrier CMA CGM is to secure $1bn in financing from the Export-Import Bank of China.

The two parties will sign an agreement on Wednesday when the Chinese prime minister Li Keqiang visits CMA CGM’s headquarters in Marseille, Reuters reports.

The agreement will comprise loans and guarantees for vessel orders from Chinese shipyards, as well as strategic investments.

CMA CGM will also sign an agreement with China Merchants (CMHI) through which the two will explore joint investments that will form part of China’s ‘One Belt, One Road’ infrastructure and trade initiative.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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