Wednesday , 19 September 2018
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CMA CGM to acquire Finnish carrier

CMA CGM has agreed the purchase of Finnish intra-European carrier Containerships from its parent company, Container Finance Ltd Oy.

The French company has also agreed a deals for Container Finance’s 25% stake in terminal operator Multi-Link Terminals and its shares in CD Holding Oy.

Containerships has a workforce of 560 people and offers ship, truck, rail and barge services in the Baltic market, Russia, Northern Europe, North Africa and Turkey.

The acquisition will complement CMA CGM’s current European service which it offers through itself and its affiliate, MacAndrews.

Containerships will take delivery of four liquefied natural gas (LNG)-fueled vessels between August 2018 and January 2019.

Multi-Link Terminals operates three facilities: one in Helsinki, Finland, one in Kotka, Finland and one  in St. Petersburg, Russia.

The remaining 75% share in Multi-Link Terminals is held by Global Ports Group, which APM Terminals has a 30.75% stake in.

CMA CGM’s current intra-regional services are offered through a number of subsidiaries: CNC in Asia, Mercosul in Brazil, Sofrana for the Pacific Islands, and MacAndrews in Europe.

The transaction remains subject to approval by European competition authorities and is expected to take between three and six months.