ShippingWatch

CMA CGM earmarks one third of its billion euro loan for Ceva Logistics

Close to one third of the state-guaranteed loan that CMA CGM recently secured will be sent towards Ceva Logistics. The Ceva acquisition has created a significant debt burden for the container line.

Photo: Ceva Logistics

When CMA CGM recently secured a new state-guaranteed loan of a little over EUR 1 billion, it meant that Ceva Logistics can also look forward to getting more money.

One of the terms of the loan with the shipping line's banks is that CMA CGM commits to using a total of EUR 300 million on recapitalizing Ceva Logistics, and this effectively earmarks close to one third of the loan for Ceva.

Read the whole article

Get 14 days free access.
No credit card required.

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

Oil service firm loses nearly USD 60 million in three months

Norway's PGS still suffers under the Covid-19-stricken oil market, delivering yet another financial report with enormous red figures on the bottom line. The deficit is smaller than in Q3 2020, however, when PGS lost more than a quarter billion dollars.

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Further reading

Related articles

Trial banner

Latest news

See all jobs