Ceva slashes debt

CEVA Logistics, which recently rejected a bid for the remainder of the company from existing shareholder CMA CGM, said its net debt was down 43% to $1,190 million, in its preliminary results for 2018. It added that it has been a year of structural changes for CEVA, including an initial public offering on the Swiss Stock Exchange followed by a “transformational” refinancing that saw the company overhaul its ... [+]

Ceva rejects fresh CMA CGM bid

Ceva Logistics has rejected a CHF30 per share offer from CMA CGM for the remaining shares in the company, saying that it was too low. The shipping line already holds a major stake in the forwarder, under a deal in which Ceva also acquired 100% of CMA CGM Log, the ... [+]

Shipping line gets into farming

CMA CGM Group is supporting the financial and industrial development of urban farming company Agricool, which uses old shipping containers for its operations. Founded in 2015 in Paris, aims to produce fruit and vegetables without pesticides, picked and sold on the same day and to customers in the neighbourhood and ... [+]

New Caribbean ships for CMA

CMA CGM has taken delivery today of the 3,500teu Fort de France, the first of an order for four container ships dedicated to the French West Indies. The ship is equipped with 850 reefer plugs for refrigerated containers. The group will take delivery during 2019 of three identical vessels for ... [+]

Container shipping moves into the digital age

CMA CGM has become the first ocean carrier to be listed on the Freightos online freight marketplace. It has signed a pilot agreement with online bookings, guaranteed pricing, and secured capacity on CMA CGM China-US trade lanes available on the platform. Extension to additional lanes is planned in the near ... [+]

Ceva to take over new shareholder’s logistics arm

CEVA is to acquire 100% of CMA CGM Log, the shipping line’s freight management service for $105 million, subject to regulatory approvals and due diligence. It forms part of a new strategic partnership between the two companies in which CMA CGM will itself take a stake of up to a ... [+]

Container lines to forge common IT platform

IT executives from MSC, AP Moller–Maersk, CMA CGM, Hapag-Lloyd, and Ocean Network Express plan to set up an association that will create common information technology standards for the container shipping industry. Members of the group identified a need for a neutral and non-profit body for ocean carriers that is driven ... [+]

CMA gets green light for Containerships takeover

CMA CGM said on 23 October that its agreement to take over Containerships owner Container Finance, signed in June, has been accepted unconditionally by all relevant competition authorities. The deal is expected to be completed on 31 October. [+]

CMA and Ceva outline new partnership

CEVA Logistics and CMA CGM say they will broaden their strategic partnership and sign a new relationship agreement. It follows the shipping line’s decision to take a stake of up to a third in the logistics company and the rejection of a rival offer from competitor DSV. The partners said the ... [+]

CMA ups Ceva stake to fend off DSV

Shipping line CMA CGM is increasing in its shareholding in logistics specialist Ceva, with the latter rejecting an advance by rival logistics firm DSV. CMA CGM announced that it would take a 25% share in Ceva Logistics in April, a deal which also allowed it to nominate two members to ... [+]

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