CMA CGM heads to Korea for funding

Seoul: French liner CMA CGM, stuck with one of the largest containership orderbooks in the world, has had to get creative to finance all the new ships. It has just reached agreement on the establishment of a committee comprised of French, European and international banks including certain major financial institutions from Asia and the Republic of Korea. The committee will propose suitable measures to address the group's short and medium term financing requirements with a view to strengthening CMA CGM's capital structure and, in so doing, ensuring its ongoing development.  [30/09/09]