COSCO SHIPPING Ports and CMA Terminals Holding sign MOU
On 20 January, COSCO SHIPPING Ports signed a memorandum of understanding (“MOU”) with CMA Terminals Holding in Shanghai, the company said in its press release. The two parties have agreed to seek cooperation in ports worldwide and preference will be given to ports that the Ocean Alliance calls. Meanwhile, both sides have also agreed to provide support in terms of business and service to the ports that the other side has already invested.
Since the establishment of the Ocean Alliance, the cooperation between COSCO SHIPPING Ports and CMA Terminals Holding has become closer. Both sides wish to create more opportunities in global port investment and operation. The discussion of cooperation began in early 2016 and on this basis, both sides have recently reached consensus and signed the MOU.
About CMA CGM
CMA CGM, founded and led by Jacques R. Saadé, is a leading worldwide shipping group. Its 536 vessels call more than 420 ports in the world, on all 5 continents. In 2015, they carried 18 million TEUs (twenty-foot equivalent units). CMA CGM has grown continuously, and has been constantly innovating to offer its clients new sea, land and logistics solutions. With a presence in 160 countries, through its 600 agencies network, the Group employs 29,000 people worldwide, including 2,400 in its headquarter in Marseilles.