Corporate
The CMA CGM Group to sign two major economic agreements during the Chinese Prime Minister’s visit at its headquarter on July 1st
During the Chinese Prime Minister Mr Li Keqiang’s official visit at its headquarter on July 1st, the CMA CGM Group is pleased to announce that two major economic partnerships will be signed :
- A financing framework agreement with the Chinese bank CEXIM
- A strategic partnership with China Merchants (CMHI) on the “One Belt, One Road” project initiated by the Chinese government.
USD 1 billion financing solutions framework agreement with the Chinese bank CEXIM
CMA CGM and the Export-Import Bank of China (CEXIM) will 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. Those solutions would be available for the future vessels and containers the group may order in China. Those investments are essential to accompany the CMA CGM Group’s development strategy.
Historically, The CMA CGM Group has been ordering most of its containers to the Chinese group CIMC, and more recently started to place orders to Chinese shipyards for some of its containerships. Over 2015 second semester, the CMA CGM Group will take delivery from Chinese shipyards of three 18,000 TEUs vessels. Those will be the Group’s largest vessels and the largest to have ever been built by Chinese shipyards. They will be named after great explorers – including the CMA CGM Zheng He, named after China’s most famous explorer.
Partnership between China Merchants (CMHI) and CMA CGM to develop the strategic “One Belt, One Road” project
The « One Belt, One Road » project is a high profile strategy initiated by the Chinese government to develop many infrastructure and ports-related logistics projects. CMA CGM and China Merchants (CMHI) will agree on a common and primary interest. They will sign a strategic partnership on July 1st to investigate and evaluate together, as their priority, the investment opportunities. Those opportunities will be part of the maritime dimension of the “One Belt, One Road Project”: the “Maritime Silk Road”.
« One Belt, One Road » is most certainly the world’s most ambitious infrastructures development project. Initiated by the Chinese Government and its President, it aims to:
- Create a land axis between China and Europe via Russia
- Create a 21st century silk road that will link South East Asia to Oceania, East Africa, North Africa and Europe by the sea, in order to secure imports and exports to and from China.
Those two agreements strengthen the ties between CMA CGM and Chinese groups, and confirm CMA CGM’s position in China. They are in line with the CMA CGM Group’s development strategy in China.
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