Ocean cargo/global logistics: CMA CGM makes bet on new Mega-ship
A bullish sign of global economic recovery was revealed today with the launching of one of the world’s largest container vessels.
Patrick Burnson -- Logistics Management, 11/11/2009
MARSEILLES—A bullish sign of global economic recovery was revealed today with the launching of one of the world’s largest container vessels.
The CMA CGM Group – which has been struggling of late with its own financial problems – announced that it was placing a “mega†ship capable of moving 13,300 twenty-foot equivalent units (TEUs) into the Asia?Europe trade this week.
Furthermore, said the company, the CMA CGM “Christophe Colomb†represents the brand’s “flagship.â€
Nicolas Sartini, senior vice president Asia / Europe Lines, CMA CGM Group, noted that soft rates in the market are “recovering,: and that this new giant cargo carrier represents a “strategic asset†while a rebound is underway.
“Thanks to its size and equipment, this modern and competitive vessel enables the Group to meet its growing customer demand on this key market while ensuring economies of scale,†he said.
Launched today in South Korea, the vessel is on a line operated in partnership with Maersk (1 vessel CMA CGM, 9 vessels Maersk). This decision, said spokesmen, enables the Group to improve service quality and optimize its new transport capacity.
The vessel will start its rotation in Shanghai, and then on to Ningbo (12th of November), Xiamen (14th of November), Hong Kong (15th of November), Yantian (16th of November) and Algeciras (3rd of December) before calling Rotterdam on the 7th of December and, finally, Bremerhaven on the 9th of December.
Shipping analysts noted that this announcement does not necessarily spell relief for the Group, however. As reported in LM, and elsewhere in the trade press, CMA CGM, is in bank negotiations regarding a restructuring of its $5.6 billion debt. But by making a bet on a super-sized vessel when competitors are still downsizing fleets, the carrier is showing remarkable resolve.
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