SM Line is expanding its fleet

SM Line, Sough Korean shipping company, is working on fleet expansion since it plans to add  9 more ships by the end of this year. New vessels will be applied on the new intra-Asian and trans-Pacific routes.

​As per ​Ki Hun Kwon, president of SM Line, ​the company is going to buy 5 containerships with capacity 8500 TEU and 4 with 5000 TEU. ​​As revealed,  the vessels with 8500 TEU will be used for  a new Pacific Northwest service, ​ and other ships ​on US East Coast service​, starting in 2018.

​This year SM Line expects its profit to reach 380 million USD  and in 2018 should be obtained 800 million USD. 

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CMA CGM is selling the stake in one of its terminals

French carrier company CMA CGM will be selling 90% equity interest in Global Gateway South terminal at LA port to EQT Infrastructure III for $817 million. The selling agreement between CMA CGM and EQT Infrastructure with its partner P5 Infrastructure was signed on June 30. As soon as transaction is closed, CMA CGM will save its 10% interest in GGS terminal. Although French ocean carrier will remain a major user of this terminal with “preferential conditions.” It is expected that transaction will be closed by the end of this year. 

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