Major shipping agreement between French companies CMA CGM, Brittany Ferries
French shipping and logistic giant CMA CGM Group this week announced 25 million-euro investment in Brittany Ferries, the largest ferry operator on the French registry, marking a high-profile partnership in the combined transports sector, as it combines a carrier shipper (freight) with port-and-ferries operator (passengers).
Roughly 10 million euros of the 25 will be in the form of quasi-equity.
According to the first media reports of the deal, CMA CGM is determined to support Brittany Ferries’ post-pandemic recovery.
“By harnessing the respective areas of expertise of the CMA CGM Group and Brittany Ferries, it will also help promote the development of cross-Channel shipping and underpin France’s position in the sector. Under this agreement, a representative of the CMA CGM Group will join Brittany Ferries’ Supervisory Board,” a statement by Brittany Ferries read.
The transport of freight aboard Brittany Ferries’ ro-ro ships will also expand CMA CGM Group’s offering in the sector, especially to routes in the UK.