CMA CGM and CSSC Group Sign Deal for Nine 22,000 TEU Vessels

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Image Courtesy: CMA CGM

CMA CGM and CSSC Group have entered into a deal for the construction of nine 22,000 TEU vessels.

This will go down in the record books as the largest container vessels to ever be ordered. The French shipping firm signed the contract on September 19 and confirmed that the Chinese shipyards Hudong-Zhonghua Shipbuilding and Shanghai Waigaoqiao Shipbuilding (SWS) will be building the container ships.

The event took place in Marseille and the contract is estimated to be worth USD 1.2 billion. CMA CGM signed a LOI with the shipyards, wherein CSSC Hudong-Zhonghua would be in charge of constructing 5 ships, while Shanghai Waigaoqiao Shipbuilding would be entrusted with building the remaining 4 units. The company stated that the contract was placed, “in order to keep pace with market growth and the group’s needs.”

The company further informed, “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,”