Recent reports states that the French liner CMA CGM was prepared to create a mega-alliance with a recently merged Cosco and CSCL (COSCOCS), Hong Kong-based OOCL and the Taiwanese Evergreen, that is anticipated to dominate the East-West trades.
The Vice Chairman of CMA CGM Rodolphe Saadé spoke about its future alliances with other carriers after the rumors spread regarding its new alliance.
Saadé quoted: “We are becoming a larger shipping line and we are in the position to select the partners with whom we want to do business. There are many rumours in the market about who we are talking to. In our industry everybody talks to everybody. We are discussing with the new China Shipping group, but we are also discussing with others.”
Rodolphe Saadé with his brother and CEO of CMA CGM Jacques R. Saadé recently witnessed the inauguration of their 18,000 TEU ship. At the event, he commented on his commitment to trade with the US and emphasised the historic relations between France and the US. They believed that the US economy is set for a boost soon.
Source: WSJ
