Major French carrier plans 2014 IPO

If the financial results are solid and the capital market behaves, French CMA CGM aims for an IPO by the end of 2014, says Managing Director Rodolphe Saade.

BY OLE ANDERSEN

French CMA CGM, the world's third-largest container carrier, has an initial public offering planned for the end of 2014 if the carrier can continue to deliver solid financial results, and if the market conditions allow it, says Managing Director Rodolphe Saade, son of the family-owned shipping company's CEO since 1978, Jacques Saade, in an interview with American Journal of Commerce.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles
Receive our daily newsletters
Access our app

Get full access for you and your coworkers

Start a free company trial today

French container giant orders more ships
For subscribers
Maersk Line’s new partner in massive capacity boost
Fearnley: New Maersk alliance could explain stable rate hike
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Regulation

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

There is too much emphasis on expensive ships and new fuel when it comes to the green transition, says Norden’s Jan Rindbo.

For subscribers

Peder Simonsen CFO in Golden Ocean points to congestion as a main reason as to why freight rates haven't increased yet when demand is good. | Photo: Pareto Securities

Bulk

A simple reason could explain low dry bulk rates despite good demand

For subscribers

Foto: Abdel Hadi Ramahi/reuters/ritzau Scanpix

Logistics

Dubai challenges Singapore as shipping's favorite city

For subscribers

Ports

Opinion: Europe's key ports have become better connected after Covid

ShippingWatch.com

Cosco to build production chain for green methanol

For subscribers

Carriers

Russia’s diesel ban threatens to roil global markets – if it lasts

For subscribers

TotalEnergies chief exec: Unreasonable to ban Russian LNG before 2025
There will not be enough liquefied natural gas to replace the EU’s imports of Russian LNG until 2025 or 2026, says the chief executive of Totalenergies.
For subscribers
John Fredriksen has increased his wealth by NOK 81bn this year
The Norwegian-Cypriot shipping magnate is by far Norway’s richest man and has earned over NOK 200 million a day since last year.
Hapag-Lloyd rolls out Starlink internet to entire fleet
A test of Elon Musk’s satellite internet has ”revolutionized” communication for employees at sea and allows for remote maintenance of ships, according to the shipping company.
For subscribers
European Energy gets new partner for methanol plant
The sale to the Japanese trading company received the stamp of approval from the EU Commission in August, and the deal has now been finalized.
For subscribers
CMA CGM and Maersk will need help in new green lobbying alliance
Two of the world’s largest container shipping companies have joined forces to ”accelerate decarbonization” in the shipping industry - but it will take more effort to succeed, analysts say.
For subscribers
Habben Jansen calls on energy majors to do more for the green transition
Ships are not the problem in shipping’s green transition – the problem is rather the lack of green fuels, and the big oil companies should help out, says Hapag-Lloyd’s chief executive.
For subscribers

Chief executive: Bolloré acquisition will transform Ceva's air cargo business

The price of air freight has dropped significantly, and the market will become ”complex” in the coming years, says the chief executive of Ceva Logistics.

For subscribers

Logistics

Dubai challenges Singapore as shipping's favorite city

Singapore is still the favorite city of maritime executives, but high costs of living and skyrocketing rental prices make an increasing number of people look to Dubai, according to survey.

For subscribers

Regulation

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

There is too much emphasis on expensive ships and new fuel when it comes to the green transition, says Norden’s Jan Rindbo.

For subscribers

John Fredriksen once again tops the list of Norway's richest men. | Foto: Ints Kalnins/Reuters/Ritzau Scanpix

People

John Fredriksen has increased his wealth by NOK 81bn this year

The Norwegian-Cypriot shipping magnate is by far Norway’s richest man and has earned over NOK 200 million a day since last year.

"In my view, the two shipowners’ sustainability pact could be the nucleus of a wider shipping industry representative body," says Philip Damas from consultancy house Drewry. | Photo: Pr / Cma Cgm

Regulation

CMA CGM and Maersk will need help in new green lobbying alliance

Two of the world’s largest container shipping companies have joined forces to ”accelerate decarbonization” in the shipping industry - but it will take more effort to succeed, analysts say.

For subscribers

Bulk