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According to the European Community Shipowners’ Associations (ECSA), the EU-Canada trade agreement will cut Customs duties and open new markets for shipping companies.
The Comprehensive Economic Trade Agreement (CETA) provisionally entered into force on September 21, after having been approved by EU member states and the European Parliament.
Niels Smedegaard, ECSA President, stated: “Shipping needs global trade to exist and global trade cannot exist without an efficient shipping industry. Around 80% of world trade in goods is carried by the international shipping industry and European shipowners control 40% of the world’s merchant fleet and operate shipping services all over the world. We also support the plan announced last week by President Juncker to set up a Group of Experts on EU Trade Agreements, and we would certainly be ready to provide our expertise on the matter.”
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CMA CGM Fleet Update
French-based shipping giant has concluded an agreement of purchase 9 container carriers 22 000 TEUs capacity each. The order should be completed by the end of 2019. The contract is being estimated to more than 1 billion US dollars. That is one more step to meet growing market demand and to keep pace cargo turnover.
Auction Export uses CMA CGM service to numerous destinations, so we can count on faster service and less quay time possibly next year.
CMA CGM Orders Nine 22,000 TEU Vessels
French container shipper CMA CGM has announced the order of nine 22,000 TEU containerships: “In order to keep pace with market growth and the group’s needs, the Board of Directors of CMA CGM has approved the order for 9 container ships of 22,000 twenty-foot equivalent (TEU). This order, of which the first ships will come into service from the end of 2019, will further reduce unit transport costs, particularly on the Asia-Europe routes.”
The contract with the Chinese shipyards CSSC Hudong-Zhonghua and Shanghai Waigaoqiaois is worth about USD 1.2 billion. These newbuildings will be the world’s largest containerships by TEU capacity.
In Q2 of 2017, CMA CGM reported a net income of USD 219 million, marking a turnaround from last years's Q2 loss of USD 129 million. Freight rates increased on most of their lines, resulting in a 12.5% rise in average revenues per container.
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