CMA CGM swoops on Finnish based short sea specialist

Containerships is set to take delivery of four LNG-fueled vessels between August 2018 and January 2019

JUNE 20, 2018 — Marseilles headquartered CMA CGM has signed an agreement with Container Finance Ltd Oy to acquire Espoo, Finland, headquartered short sea specialist Containerships. 

The deal will see Containerships’ container shipping and logistics business will become part of the CMA CGM Group, along with Container Finance’s holdings in Multi-Link Terminals Ltd and CD Holding Oy.

Founded in 1966, Containerships is an Intra-European short sea specialist with a strong presence in the Baltic market, Russia, Northern Europe, North Africa and Turkey.

With a workforce of 560 people, Containerships offers its customers a complete range of services, as well as logistics solutions by ship, truck, rail and barges. It will take delivery of four LNG-fueled vessels between August 2018 and January 2019 (see earlier story).

CMA CGM says the Containerships’ network will complement its service offering in North Europe and the Mediterranean and will strengthen the development strategy implemented by Rodolphe Saadé, CMA CGM Group’s Chairman and CEO, aimed at boosting the group’s regional network.

The agreement remains subject to approval by the relevant authorities and the estimated closing will be in between 3-6 months time.