Global Logistics: Containerships becomes part of CMA CGM
Container Finance has signed an agreement with CMA CGM under which the Finnish shipping company Containerships will become part of the CMA CGM group.
In addition, Container Finance’s holdings in Multi-Link Terminals and Holding are also included in the deal.
Once completing the transaction, Container Finance’s entire container logistics operations will integrate CMA CGM intra-regional market offering in Europe and Mediterranean area. In return, CMA CGM will benefit from Containerships’ strong presence in Northern Europe and the Baltic Sea.
At present, the restructuring does not have any impacts on Containerships’ brand or operations. The company will continue to execute its LNG strategy as planned and will launch four LNG fuelled vessels between August 2018 and January 2019., and the company’s guidance for the year 2018 remains unchanged.
The agreement, subject to authorities’ approval is expected to close within the next 3 to 6 months.
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