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CMA CGM welcomes 'symbol of the recovery' on Asia-Europe trade

CMA CGM welcomes 'symbol of the recovery' on Asia-Europe trade

Marseille: Christine Lagarde, France's Minister of Economic Affairs, Industry and Employment, carried out a high-profile christening of CMA CGM's new 13,800teu flagship - the largest ever French-flag container vessel - in Le Havre yesterday.

Dubbed by its owners a "symbol of the recovery in international trade," CMA CGM Christophe Colomb will be deployed on the FAL 5 (French Asia Line) service on Asia-Europe trade. Port rotation will be Ningbo, Shanghai, Yantian, Tanjung Pelepas, Port Kelang, Le Havre, Hamburg, Rotterdam and Zeebrugge.

CMA CGM says the christening has coincided with a sharp recovery in its business since the beginning of the year, with volumes up 21% and revenue up 29% over first quarter 2009. Second-quarter results will exceed first-quarter figures, it adds.  

Separately, CMA CGM chairman Jacques Saade has denied reports that the
group is to receive a $1bn loan from the Qatari Investment Authority
to help cover its newbuilding commitments, saying the terms sought by
the potential investors were too onerous.  [13/07/10]

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