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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.