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CIMC and CMA CGM set up joint venture in Tianjin

The European Commission has approved the formation of a new joint venture between China’s CIMC Neocontainer and French shipping company CMA CGM.

The joint venture will provide services of container storage management, container handling, and container repair based in Tianjin port.

In January, CMA CGM and CIMC Neocontainer notified the European Commission of the proposed acquisition plans for acquiring the joint control of a jv newly created for the provision of container yard related services in Tianjin port.

After the examination of the deal, the commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement.

China International Marine Containers (Group) Ltd. (CIMC) is a world leading supplier of logistics and energy equipment. CIMC Neocontainer is a logistics service unit of CIMC.

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