The agreements will help finance the purchase of containers and ships, and the development of maritime infrastructure between Europe and China.
CMA CGM Group said it will sign two major economic agreements tomorrow when Chinese Prime Minister Li Kepiang’s visits its headquarters in Marseilles on July 1.
The first is for a $1 billion financing framework agreement with the Export-Import Bank of China (CEXIM) in the form of loans and/or export credit insurance. The agreement would be available for the future vessels and containers the group may order in China.
In the past, the French ocean carrier has ordered most of its containers from CIMC, and more recently started to place orders with Chinese shipyards for some of its containerships. In the second half of 2015, CMA CGM Group will take delivery from Chinese shipyards of three 18,000-TEU vessels. They will be the largest vessels in the carrier’s fleet and the largest to have ever been built by Chinese shipyards.
The second agreement will be a partnership between China Merchants (CMHI) and CMA CGM to jointly investigate and evaluate investment opportunities that are part of the maritime dimension of China’s One Belt, One Road Project: the Maritime Silk Road.
The One Belt, One Road, infrastructure project aims to “Create a land axis between China and Europe via Russia, create a 21st century silk road that will link South East Asia to Oceania, East Africa, North Africa and Europe by the sea, in order to secure imports and exports to and from China,” said CMA CGM.
CMA CGM to sign agreements with China’s Prime Minister
