CMA CGM seeking acquisition targets after ending pursuit of Hapag-Lloyd

CMA CGM seeking acquisition targets after ending pursuit of Hapag-Lloyd

French containerline CMA CGM is still on the hunt for acquisition targets despite ending its interest in Germany’s Hapag-Lloyd.

CMA CGM was linked to a takeover of Hapag-Lloyd in July, however the German line hit back when shareholder Klaus-Michael Kühne, said: “Hapag-Lloyd would rather take over CMA CGM than vice versa.”

Speaking to Reuters, CMA CGM’s CEO Rodolphe Saade confirmed Hapag-Lloyd was a target but said the “matter was closed” although the firm is still open to other acquisitions.

“The shipping sector is consolidating further and if there are opportunities the CMA CGM group … is able to be in the running for a new deal,” Saade told Reuters on the sidelines of a ship launch ceremony in Le Havre.

CMA CGMA is the world’s fourth largest shipping line according to Alphaliner, with total capacity of around 2.64m teu.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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1 Comment

  1. Avatar
    Vladimir
    September 7, 2018 at 11:01 pm

    Industry is definitely changing, however a key fundamental “bigger is not always better” keep being forgotten by the players.
    balancing supply -demand + better synergies is really the KEY, and not precisely who is the biggest