[060710.EN.SEA] CMA CGM Upgrades Two Services, Prepares For External Investors

CMA CGM Group takes delivery of two new vessels; upgrades its Victory Bridge service; and plans to sign with investors by end of July.
CMA CGM has taken delivery in South Korea of the 6,500 TEU CMA CGM Lamartine and the 11,400 TEU CMA CGM Callisto.

Built by Hanjin Heavy Industries, the CMA CGM Lamartine is deployed on the Mediterranean Express (MEX) service, calling at the following ports: Yokohama > Kobe > Pusan > Kwanyang > Shanghai > Ningbo > Xiamen > Chiwan > Hong Kong > Port Kelang > Beirut > Malta > Valencia > Barcelona > Fos > Genoa > Naples > Malta > Damietta > Khorfakkan > Port Kelang > Chiwan > Yokohama.

Built by Hyundai Heavy Industries, the CMA CGM Callisto is the third of a series of twelve 11,400 TEU vessels ordered by the CMA CGM Group. These will be delivered between 2010 and 2011.

The CMA CGM Callisto will be deployed on the French Asia Line (FAL5) service, calling at Shanghai > Yantian > Tanjung Pelepas > Port Kelang > Le Havre > Hamburg > Rotterdam > Zeebrugge > Port Kelang > Singapore.

CMA CGM has also announced an upgrade to its Victory Bridge service linking North Europe to the US South Atlantic, Mexico and the US Gulf.

Operated in partnership with CSAV, this new service will replace the one previously operated in cooperation with MSC, and will deploy five 3,000 TEU vessels - three from CMA CGM and two from CSAV.

This new joint service will strengthen CMA CGM's presence on both trades between North Europe to the US and North Europe to Mexico, providing customers with the most direct route and fastest transits in the market from South Florida to North Europe, two weekly sailings between Mexico & North Europe with fast transit times, an extra call in Rotterdam to meet North European exporters as well as reefer importers needs, and comprehensive port coverage on these key transatlantic trade lanes.

Effective October 2010, the port rotation will be: Le Havre > Antwerp > Rotterdam > Bremerhaven > Charleston > Miami > Vera Cruz > Altamira > Houston > Miami > Le Havre.

The ports of Savannah and Felixstowe, called in the previous rotation, will continue to be served through CMA CGM's Round The World and Liberty Bridge services.

In other news, the CMA CGM Group has a few additional weeks to complete its capital increase with external investors. The discussions, which are well advanced, require the preparation of particularly complex documents.

CMA CGM Group's operational activity has sharply improved since the beginning of the year. Over the first quarter, volumes carried were 21% higher than the prior year period, while EBITDA at $380 million was up $640 million year-on-year and in line with first-quarter 2008.

Quarterly revenue was up 29% to $3.2 billion, and second quarter results will exceed first-quarter figures.

Source : EFT, 06.07.10.