CMA CGM buys Finnish Containerships

CMA CGM buys Finnish Containerships

21-06-2018 13:00:00

The French container giant CMA CGM has decided to buy the Finnish company Containerships, a company that specializes in servicing the intra-European market, World Maritime News writes. Containerships is a logistics company that, in addition to a 15-vessel fleet, also owns trucks and terminals.

Containerships primarily focuses on supplying its services in and around the Baltic Sea, the North Sea and the Mediterranean Sea and the company has been listed on the Helsinki Stock Exchange since April 2016.

The plan is for all of the company's activities to be integrated into CMA CGM's intra-regional offers in Europe and the Mediterranean.

"The acquisition of Containerships will be another step towards strengthening the development strategy implemented by Rodolphe Saadé, president and CEO of CMA CGM, to make the group's regional network closer," it states in a press statement from CMA CGM.

Containerships was founded in 1966 and currently has 562 employees. In 2017, the company’s net sales income amounted to 226.7 million Euros, which resulted in a surplus of 1.7 million Euros.

In order for the deal to go through, there needs to be approval by the competition authorities.

Source: World Maritime News / Maritime Danmark

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