CMA CGM Archives - The Loadstar Making sense of the supply chain Fri, 01 Nov 2024 18:46:02 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 31889032 ‘Desperate’ GRIs by carriers prop up Asia-Europe spot rates, for now https://theloadstar.com/desperate-gris-by-carriers-prop-up-asia-europe-spot-rates-for-now/ https://theloadstar.com/desperate-gris-by-carriers-prop-up-asia-europe-spot-rates-for-now/#respond Fri, 01 Nov 2024 13:39:54 +0000 https://theloadstar.com/?p=284052 Container shipping lines on the main east-west trades this week managed to reverse 15 weeks of consecutive declines in spot freight rates by managing to push through a general rate increase on ex-Asia loadings.
This week’s Drewry World Container Index (WCI) saw the spot rate on the Shanghai-Rotterdam leg rise 8% week on week, to $3,396 per 40ft, while the Shanghai-Genoa leg grew 11%, to $3,648 per 40ft.
One European forwarder told ...

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]]> https://theloadstar.com/desperate-gris-by-carriers-prop-up-asia-europe-spot-rates-for-now/feed/ 0 284052 CMA CGM offers discount vouchers to fill ships out of India as exports dip https://theloadstar.com/cma-cgm-offers-discount-vouchers-to-fill-ships-out-of-india-as-exports-dip/ https://theloadstar.com/cma-cgm-offers-discount-vouchers-to-fill-ships-out-of-india-as-exports-dip/#comments Wed, 30 Oct 2024 12:17:24 +0000 https://theloadstar.com/?p=283816 A growing cargo crunch seems to be prompting container lines serving Indian trades to devise new strategies to attract volumes to fill their vessels.
Among the major carriers serving the trades is CMA CGM and the French carrier is offering discount vouchers to customers booking shipments on its spot window.
For example, from India to Australia this week, it offered a “SpotOn” discount of $300 per teu, a Mumbai-based freight forwarder told ...

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]]> https://theloadstar.com/cma-cgm-offers-discount-vouchers-to-fill-ships-out-of-india-as-exports-dip/feed/ 1 283816 Across the pond – carriers get their act together https://theloadstar.com/across-the-pond-carriers-get-their-act-together/ https://theloadstar.com/across-the-pond-carriers-get-their-act-together/#respond Wed, 30 Oct 2024 12:13:17 +0000 https://theloadstar.com/?p=283810 The fundamentals of demand and supply in the container shipping market have been at work in the transatlantic trade in recent weeks, demonstrating once again how much the market is governed by basic economic laws.
Here comes a bit of healthy reporting today.
While spot freight rates on the transpacific and Asia-Europe trades have been on a long downward slope for weeks now, the Europe-North America routes have been remarkably robust by ...

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]]> https://theloadstar.com/across-the-pond-carriers-get-their-act-together/feed/ 0 283810 CMA CGM braces for an even greater financial hit from French windfall tax https://theloadstar.com/cma-cgm-braces-for-an-even-greater-financial-hit-from-french-windfall-tax/ https://theloadstar.com/cma-cgm-braces-for-an-even-greater-financial-hit-from-french-windfall-tax/#respond Tue, 29 Oct 2024 13:29:39 +0000 https://theloadstar.com/?p=283728 French MPs have amended a bill before parliament that would make a temporary windfall tax on the country’s ocean shipping operators permanent.
The tonnage tax regime has also been modified, making it potentially less advantageous, and leaves CMA CGM facing a far greater financial hit than was initially anticipated.
The government, which is well short of an overall majority in France’s lower house, had proposed that the exceptional levy be just that, ...

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]]> https://theloadstar.com/cma-cgm-braces-for-an-even-greater-financial-hit-from-french-windfall-tax/feed/ 0 283728 CMA CGM signs up to take a stake in Morocco’s Nador West Port https://theloadstar.com/cma-cgm-signs-up-to-take-a-stake-in-moroccos-nador-west-port/ https://theloadstar.com/cma-cgm-signs-up-to-take-a-stake-in-moroccos-nador-west-port/#respond Tue, 29 Oct 2024 12:26:51 +0000 https://theloadstar.com/?p=283687 CMA CGM is set to increase its presence in the Moroccan port sector, signing a 25-year concession agreement to take a joint-venture stake in the Nador West Med container terminal.
Under the terms of the deal, hammered out with state-controlled Moroccan port operator Marsa Maroc, CMA CGM will take a 49% stake in the under-development facility, to operate half of the first facility being built, the East Container Terminal.
Confusingly, development of ...

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]]> https://theloadstar.com/cma-cgm-signs-up-to-take-a-stake-in-moroccos-nador-west-port/feed/ 0 283687 CMA CGM in bio-methane deal; seafarers unconcerned by toxic ammonia fuel https://theloadstar.com/cma-cgm-in-bio-methane-deal-seafarers-unconcerned-by-toxic-ammonia-fuel/ https://theloadstar.com/cma-cgm-in-bio-methane-deal-seafarers-unconcerned-by-toxic-ammonia-fuel/#respond Wed, 23 Oct 2024 11:09:15 +0000 https://theloadstar.com/?p=283326 There are two events of note in the fuel business today: CMA CGM has signed a biomethane waste-to-fuel agreement; and a survey by the Maersk McKinney-Møller Center shows almost 60% of seafarer respondents are willing to work on an ammonia-fuelled ship.
The deal between CMA CGM and French provider Suez will entail annual production and sourcing of 100,000 tonnes of bio-methane a year and creation of a joint $108m investment programme ...

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]]> https://theloadstar.com/cma-cgm-in-bio-methane-deal-seafarers-unconcerned-by-toxic-ammonia-fuel/feed/ 0 283326 Control of Wilson Sons could boost MSC dominance in Brazil https://theloadstar.com/control-of-wilson-sons-could-boost-msc-dominance-in-brazil/ https://theloadstar.com/control-of-wilson-sons-could-boost-msc-dominance-in-brazil/#respond Tue, 22 Oct 2024 12:07:48 +0000 https://theloadstar.com/?p=283253 MSC’s acquisition of Brazilian operator Wilson Sons has raised eyebrows among forwarders in the region, although some see opportunities.
London-based Ocean Wilson Holdings confirmed yesterday it had reached an agreement to sell its 56.47% stake in the Brazilian business to MSC’s port subsidiary, Shipping Agency Services. (For more detail on the numbers, go to Loadstar Premium.)
Responding to the news, one forwarder in the region told The Loadstar: “There’ll be effects on ...

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]]> https://theloadstar.com/control-of-wilson-sons-could-boost-msc-dominance-in-brazil/feed/ 0 283253 CMA CGM purchases chartered Seatrade feeder quintet https://theloadstar.com/cma-cgm-purchases-chartered-seatrade-feeder-quintet-for-150m/ https://theloadstar.com/cma-cgm-purchases-chartered-seatrade-feeder-quintet-for-150m/#respond Tue, 22 Oct 2024 11:13:34 +0000 https://theloadstar.com/?p=283242 French carrier CMA CGM has acquired all five of the 2,300 teu feeder ships it had been chartering from Dutch specialist Seatrade Groningen.
According to shipbrokers, Seatrade Blue, Seatrade Green, Seatrade Orange, Seatrade Red and Seatrade White were a`ll acquired last week and, although the sales price was not disclosed, VesselsValue estimates each has a market value of around $30m.
CMA CGM began chartering the ships in mid-2020 for five years, paying $20,000 a day, with all five assigned to its ...

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]]> https://theloadstar.com/cma-cgm-purchases-chartered-seatrade-feeder-quintet-for-150m/feed/ 0 283242 Seaspan orders six more dual-fuel box ships and will pay in Chinese yuan https://theloadstar.com/seaspan-orders-six-more-dual-fuel-box-ships-and-will-pay-in-chinese-yuan/ https://theloadstar.com/seaspan-orders-six-more-dual-fuel-box-ships-and-will-pay-in-chinese-yuan/#respond Mon, 21 Oct 2024 10:43:47 +0000 https://theloadstar.com/?p=283098 Canadian tonnage provider Seaspan has inked the first Chinese yuan-denominated newbuilding contract, for six 13,600 teu LNG dual-fuelled ships at Hudong-Zhonghua Shipbuilding for delivery in 2028, a deal reportedly worth around CNY6.39bn ($900m).
Reportedly financed by ICBC Financial Leasing (the Industrial and Commercial Bank of China’s leasing unit), the yuan-denomination of the newbuilding contract is part of the Chinese government’s efforts to internationalise the currency in conjunction with the Belt and ...

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]]> https://theloadstar.com/seaspan-orders-six-more-dual-fuel-box-ships-and-will-pay-in-chinese-yuan/feed/ 0 283098 Capacity squeeze will ease as more newbuilds arrive, says Xeneta https://theloadstar.com/capacity-squeeze-will-ease-as-more-newbuilds-arrive-says-xeneta/ https://theloadstar.com/capacity-squeeze-will-ease-as-more-newbuilds-arrive-says-xeneta/#respond Tue, 15 Oct 2024 12:27:13 +0000 https://theloadstar.com/?p=282754 Additional tonnage being introduced to the ocean shipping market next year presents “an opportunity for shippers” to use the broad spectrum of carrier alliance strategies to their advantage.  
In Xeneta’s 2025 ocean shipping forecast, the analytics platform says “a large-scale return to the Red Sea seems inconceivable at present”, but a partial return could be on the cards for some carriers. 
Senior shipping analyst Emily Stausbøll advised: “This situation creates an ...

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