ShippingWatch

What makes CMA CGM pay close to triple price for a port it sold only four years ago?

The container lines' pursuit of port and logistics assets reached a new high on Wednesday this week when CMA CGM paid up to three times the price for a port it sold in 2017. There are several reasons for this, and there are likely more deals in store at elevated prices, says analyst.

Photo: PR / CMA CGM

Only four years after selling Fenix Marine Services to the capital fund EQT for USD 820 million, CMA CGM has put a billion dollar offer on the table to buy the American terminal back.

The deal has a contract value of as much as USD 2.3 billion, it was made clear Wednesday. If you ask shipping analyst Lars Jensen, who is CEO of Vespucci Maritime, there are several reasons why CMA CGM wants the remaining 90 percent of the shares back. The company already owned 10 percent of the terminal.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
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

Seaspan to supply container fleet with green fuels

Seaspan has a new strategy underway, through which the major tonnage provider plans to use its network to enter a number of a new business areas, with one area being delivery of green fuel to its customers.

Further reading

Related articles

Latest news

See all jobs