CMA CGM to Expand Capacity of Three Ships

CMA CGM will enlarge the capacity of three ships on order from 13,800 20-foot equivalent units to 16,000 TEUs, according to the carrier.

The carrier also might order vessels up to 18,000 TEUs, said Jacques Saade, the French ocean carrier’s chief executive.

CMA CGM news from JOC:
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Saade’s remarks, made during a naming ceremony Tuesday for CMA CGM’s 11,400-TEU Titan in Dunkirk, France, underscores the container shipping industry’s enthusiasm for ever larger vessels to keep pace with growing cargo demand.

The 16,000 TEUs ships will be second largest afloat after the 10 18,000 TEUs vessels ordered by Maersk Line earlier in the year.

While Maersk is likely to exercise an option for an additional 10 18,000 TEUs ships within months, CMA CGM is expected to hold back from ordering similar sized vessels for now unless it teams up with a partner.

Saade’s remarks, confirmed by a CMA CGM spokesman, testify to the family-owned carrier’s recovery from a deep financial crisis that forced it to restructure its $5 billion debt and seek a $500 million capital injection from a Turkish investor.

-- Contact Bruce Barnard at brucebarnard47@hotmail.com