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Container Shipping & Trade

Container Shipping & Trade

CMA CGM jumps to second-largest ULCS owner

Mon 20 May 2019 by Rebecca Moore

CMA CGM jumps to second-largest ULCS owner
CMA CGM has overtaken MSC to become second-largest ULCS owner, says VesselsValue

CMA CGM is now the second-largest ultra large container ship owner (ULCS) in the world after it placed another newbuild order this year.

CMA CGM ordered 10 15,000-TEU ULCSs from China State Shipbuilding Corp – five from Jiangnan Shanghai and five from Hudong Zhonghua. VesselsValue says this increases CMA CGM’s number of UCLCs on order to 19, representing 348,000 TEU to be delivered. CMA CGM currently owns 20 live ULCSs.

The additional purchases propel CMA CGM into the top 3 largest ULCS owners, snatching second place from owner MSC, according to VesselsValue data.

VesselsValue says “Container trade routes are notoriously competitive for market share. The extra tonnage from CMA CGM increases the Ocean Alliance overall tonnage to 3.82M TEU, placing it comfortably ahead of 2M, with 3.33M TEU, and THE Alliance, whose companies own 2.15M TEU.”

The vessels are expected to be delivered over 2021 and 2022.

VesselsValue cargo analyst Guy Cooper told Container Shipping & Trade “Of particular interest is the fact that out of the 10 vessels ordered, CMA CGM have decided to hedge their bets by taking two paths. Of these 10 vessels, five are LNG-powered and the other five have been fitted with scrubbers. The price discrepancy between the individual newbuild contracts ordered is US$20M per vessel.”

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