CMA CGM halts further orders for the next three years
French carrier absorbs its new buildings and waits for approval for the P3 tie-up.
April 10, 2014
CMA CGM has no plans to place further vessel orders over the next three years as it receives the ships it already has on order and waits to see the market reaction to the P3 Network.
Following confirmation from the French shipping line this week that it would upgrade six vessels it has on order to 17,700 teu, CMA CGM group senior VP Asia-Europe trades Nicolas Sartini told sister publication Containerisation International that the company plans to spend the next three years digesting the vessels it has on order.
As well as the ultra-large containerships it is due to receive, from May it will begin to take delivery of its series of 9,000 teu newbuildings.
Sartini regards the 9,000 teu class of ships as the new workhorse for the deep sea container trades, because of its flexibility and suitability for the South American and other north-south trades, where the vessels will be deployed.
CMA CGM — which is a member of the P3 Network, along with Maersk Line and Mediterranean Shipping Co — confirmed it would charter 23 newbuildings of 9,000 teu from Chinese companies.
Sartini said future vessel orders would be governed by the P3 Network, which last week received approval from US regulators but still awaits the go-ahead from Asian authorities.