CMA CGM in USD 1bn Deal with CEXIM

zoom French liner giant CMA CGM and the Export-Import Bank of China (CEXIM) are scheduled to sign a framework agreement on financing solutions for a total of up to USD 1 billion in the form of loans and/or export credit insurance today during the Chinese Prime Minister Li Keqiang’s visit to CMA CGMs head office. The financing solutions would be available for the future vessels and containers the group may order in China, CMA CGM said. Historically, the CMA CGM Group has been ordering most of its containers from the Chinese group CIMC, and more recently started to place orders with Chinese shipyards for some of its containerships. Over the second half of 2015, the CMA CGM Group will take delivery of three 18,000 TEUs vessels from Chinese shipyards. Those will be the group’s largest vessels and the largest to have ever been built by Chinese shipyards. In addition, China Merchants (CMHI) and CMA CGM are to sign a partnership deal aimed to develop the strategic “One Belt, One Road” project and evaluate together investment opportunities as part of the maritime dimension of the project, the “Maritime Silk Road”. The project is a high profile strategy initiated by the Chinese government to develop many infrastructure and ports-related logistics projects. To commemorate the occassion, the CMA CGM ORFEO will exceptionally be berthing at Marseilles during the Chinese Prime Minister Li Keqiang and the French Minister of Foreign Affairs Laurent Fabius official visit of the companys head office. The CMA CGM ORFEO, a 9,658 TEUs vessel, symbolizes the commercial relations between France and China.