Subscribe to RSS feedCredit offered to CMA CGM as new chief named
CMA CGM has been given a US$500m credit line from its banks with the line's founder, Jacques Saade, appearing to have lost some power in a management change.
Releasing control: CMA CGM founder Jacques Saade
The news came as a relief to the beleaguered container shipping industry as the collapse of the world's third-largest line would have created massive disruption.
“The whole market is hoping for a positive outcome,” German shipowner Claus-Peter Offen said.
CMA CGM, owner...
This full article is available to Lloyd's List DCN subscribers only.
If you are already a subscriber, please sign in below.
If you're not a subscriber and would like to experience the full benefits of Lloyd's List DCN with a 14 day trial, please click here.
Alternatively, click here to subscribe.
| Tweet |
Daily Top Stories
- Austal wins repeat ferry order
- John Holland wins Wiggins Island contract
- Australia to benefit from Japan’s wheat import boom
- Salvor slams ‘ridiculous’ bid deadlines
- 7000-teu vessels the likely limit for Melbourne
- Napthine bullish about Hastings’ future
