‘There will be a wave of consolidation and CMA CGM is on the look out for opportunities’: Rodolphe Saadé
CMA CGM is on the hunt to swallow up other containerlines. Having just digested APL, the French line reckons opportunities will arise in the wake of the demise of Hanjin Shipping, which filed for court receivership at the end of last month.
Speaking in front of reporters in Abijan yesterday, CMA CGM vice chairman Rodolphe Saadé said: “With the collapse of Hanjin, there will be a wave of consolidation in the sector and CMA CGM is on the look out for opportunities if they should arise. We think that small or medium sized operators are going to go bust or be forced to join large operators like us.”
CMA CGM is launching the Ocean Alliance next April with new partners OOCL, Evergreen and China Cosco Shipping.
Having just acquired Neptune Orient Lines and subsidiary APL in Singapore, the CMA CGM fleet has breached the 2m slot mark for the first time with Alphaliner showing the French line has 2.18m slots now, still just over 1m slots behind the marker leader, Maersk Line.
Optimistic statement! CMA CGM is surfing a steep wave. Let’s see, if they can stay afloat when the water starts broiling, or if they will have a hard beaching.
Well said Hans-Peter and agree with you. Time will tell!!
CMA/CGM, Has a $8.5B debt load after purchasing Neptune Orient Lines, and Putting itself in #3 position last years. Its major shareholder, Turkey’s Yildrim, Is unloading his interest in CMA/CGM, To be about 24%, that is sure sign, things are not good at this company..CMA/CGM, Have showed mush wider loss in Third, (3rd) Quarter of 2016 and I, expect them to show Another loss in Forth, (4th) as well. Purchasing Neptune Orient for more Then it was worth In view of Five (5) years of losses, It was put up for sale in 2015 for $1.7B, and CMA/CGM, Paid well over: $2.7B, Billion too mush for ailing company, I hope it was well worth it..
consolidation will not deliver unless they start sucking the blood out of shippers…or unless they start sinking ships deliberately.
These are the side effects of clinging to an irrational dogma without subjecting it to logical testing: Market share should not be calculated on capacity but goods transported.
Too bad that ulcvs are too big to fit in a living room and keep as decorative instruments
Very well said George!
George, let’s talk a bit about style, please!
Every ’50s 3-island-ship would fit more nicely into the living room than these ugly, purpose designed behemoths. You would not even like to have as a doorstopper for the backdoor, would you???