CMA CGM confirms Chinese pressure after sky high container rates

As the first big container line, CMA CGM now confirms that China is putting pressure on container majors, as described by ShippingWatch a few months back. According to CMA CGM's chief executive, China wants to cap rates, he tells Financial Times.

Rodolphe Saadé, chief executive officer, CMA CGM. | Photo: PR / CMA CGM

French container major CMA CGM now confirms that China is putting pressure on the large container lines to put a cap on the record high rates that have been pushed up by a recovery in demand in the wake of the coronavirus crisis, says the French company's CEO Rodolphe Saadé in an interview with Financial Times.

"The market is so strong that they feel, the Chinese authorities, that at one point in time there needs to be a ceiling. And that is why they are saying you cannot do whatever you want, there are rules that need to be followed," Saadé tells Financial Times.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Tankers CEO sees no reason to merge tanker carriers

It has long been discussed, and the chief executive of a competitor points to Maersk Tankers as a driver in the tanker sector's consolidation race. However, Maersk Tankers CEO Christian M. Ingerslev does not see much sense in combining balance sheets, he tells ShippingWatch.

Further reading

Related articles

Latest news

See all jobs