CMA CGM, the world's third-largest container shipping group, is looking at placing $2 billion worth of orders to shipyards in China, where bank loans are more available, while European banks tighten lending, Beijing-backed Ta Kung Pao reported on Friday, Reuters reports. CMA CGM was in talks with China's top two ship builders, State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Corp (CSIC), for a total of 20 container ships of 9,000 to 10,000 twenty-feet equivalent units (TEU) each, the paper quoted industry sources as saying.
The Export-Import Bank of China was considering providing the French shipping firm with comprehensive financing, it said.
CMA CGM planned to order five ships first with options for another 15, with the ships expected to be built in Shanghai and Dalian and to be delivered from 2013, the paper said.
Korean shipbuilders refused to arrange financing for new ships so CMA CGM turned to Chinese shipyards, the paper quoted a market source as saying.
CMA CGM was not immediately available for comment.
CSSC, the parent of Shanghai-listed China State Shipbuilding Co Ltd , is China's biggest shipbuilder followed by CSIC, which controls China Shipbuilding Industry Co Ltd .
The Export-Import Bank of China was considering providing the French shipping firm with comprehensive financing, it said.
CMA CGM planned to order five ships first with options for another 15, with the ships expected to be built in Shanghai and Dalian and to be delivered from 2013, the paper said.
Korean shipbuilders refused to arrange financing for new ships so CMA CGM turned to Chinese shipyards, the paper quoted a market source as saying.
CMA CGM was not immediately available for comment.
CSSC, the parent of Shanghai-listed China State Shipbuilding Co Ltd , is China's biggest shipbuilder followed by CSIC, which controls China Shipbuilding Industry Co Ltd .