"THE ONLY THING NECESSARY FOR THE TRIUMPH OF EVIL IS FOR GOOD MEN TO DO NOTHING"
--Burke

Wednesday, April 22, 2009

2007 CMA CGM launches first Chinese port venture; is also interested in Mexico Punta Colonet seaport

" Monday, November 26, 2007  CMA CGM in first Chinese port venture
[http://cargobusinessnews.com/archive/week_of_112607.html]

A “STATEGIC cooperation agreement for the development of the port of Haicang at Xiamen” was signed Nov 26 by CMA CGM Group, the municipality of Xiamen (Fujian province), and New World Services Holding Ltd. (NWS), according to a company announcement.

 This will be CMA CGM’s first port investment project in China. The French group has shares in 16 port terminals around the world.

 According to the agreement, CMA CGM and its partners will invest in the construction and management of a deep water container terminal.

 The container port is planned to be operational in 2009.

 CMA CGM is the third largest container shipping group for international traffic in China, with 280,000 TEUs planned for 2007, according to the announcement.

 New World is a “well-established Hong Kong–based group with a rich experience of investments in transport infrastructure projects in China, especially in ports (Xiamen, Tianjin, Dalian, and Wenzhou).”

 The ceremony, at the Great Hall of the People in Beijing, was attended by French President Nicolas Sarkozy and Chinese President Hu Jintao."

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