News:Europe

CMA CGM confirms order for largest ever containerships

French container line CMA CGM has confirmed it is ordering nine 22,000 teu containerships.

CMA CGM said in its second quarter results that its board of directors had approved the order for the nine newbuildings which would be the world’s largest containerships to date eclipsing Orient Overseas Container Lines (OOCL) 21,413 teu ships that are currently coming into service.

“This order, of which the first ships will come into service from the end of 2019, will further reduce unit transport costs, particularly on the Asia-Europe routes,” CMA CGM said.

The company was previously reported to have inked Letters of Intent with Shanghai Waigaoqiao Shipbuilding Co and Hudong Zhonghua Shipbuilding in China for the nine newbuildings.

CMA CGM reported a net profit of $219m in the second quarter of 2017 compared to a $129m loss in the same period a year earlier. Revenues jumped 56.8% year-on-year to $5.55bn in the second quarter, with the inclusion of APL.

“Once again, CMA CGM outperforms the industry and demonstrates the excellence of its operational management as well as the relevance of its strategy,” Rodolphe Saadé, the ceo of CMA CGM Group stated.

Posted 18 September 2017

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Marcus Hand

Editor, Seatrade Maritime News