Monday, January 28, 2019

Container Shipping Group Confirms Move into Wider Logistics Arena

Meanwhile the Company Sees New Ship Bunker its First LNG
Shipping News Feature
NETHERLANDS – FRANCE – SWITZERLAND – A couple of items from the French shipping and container group CMA CGM this week as it pushes on with its expansion into the wider logistics arena. Today it published the full details of its offer prospectus for all publicly held registered shares of CEVA Logistics AG. Meanwhile subsidiary company Containerships has successfully carried out its first refuelling with liquefied natural gas.

The CEVA deal which has been rumbling on since last year, means the offer will remain open from February 12, 2019, to March 12, 2019, 4:00 p.m. Central European Time following the 10 trading day cooling off period. The price, as we quoted previously, will be CHF 30 net per registered share of CEVA with a nominal value of CHF 0.10 each, less the gross amount of any dilution effects becoming effective prior to the Settlement of the offer.

Bank Vontobel AG has been engaged by CMA CGM as the acceptance and paying agent for the offer which is subject to Swiss law, with full details on the website link shown above.

January 24 saw the Containerships Nord take on 234 tonnes LNG whilst in the Port of Rotterdam, the first CMA CGM owned vessel to bunker the fuel and is the first vessel in the group fleet to use the fuel. The 1,400-TEU Containerships Nord joined the CMA CGM Group’s fleet on 12 December 2018. It is the first of an order for four LNG-powered container ships with the following vessels scheduled to be delivered over the next months.

CMA CGM says it will take delivery of nine 22,000-TEU vessels from 2020 as well as two 1,400-TEU vessels, all equipped with engines using LNG. It says the use of this fuel indeed represents a real technological breakthrough which yields significant benefits compared to traditional heavy fuel oil, including a cut of up to 25% in CO2 emissions, an 85% drop in nitrous oxide produced and a reduction of 99% in both sulphur and fine particles.

Photo: The Containerships Nord bunkers in Rotterdam.