CMA CGM Group has closed the acquisition of Finland-based container-transportation and logistics company Containerships for an undisclosed sum.
Established in 1966, Containerships is primarily engaged in intra-European containerised trade with a workforce of around 690 people.
The company provides a full range of services and logistics solutions, using all types of transportation modes such as sea, road, rail and barge.
Last month, CMA CGM received approval from the European Commission to complete the deal, which is expected to help CMA CGM further boost its strategy to expand the regional network that started in 2002.
MacAndrews, which was merged with CMA CGM subsidiary OPDR last year, currently covers Great Britain, Poland, Sweden, Ireland, the Netherlands, Spain (including the Canary Islands), Portugal, and Morocco.
Container Finance’s entire container logistics business, which mainly includes Containerships, as well as Multi-link Terminals and CD Holding, will be combined with CMA CGM’s intra-regional route serving Europe and the Mediterranean area.
CMA CGM in a statement said: “With Containerships, CMA CGM is also pursuing its strategy towards the protection of the environment with the upcoming entry into Containerships’ fleet of four 1,400 TEU vessels powered by liquefied natural gas (LNG).
“These vessels will be followed, from 2020 onwards, by the entry into service of the nine 22,000 TEU and two 1,400 TEU containerships ordered by the CMA CGM Group.
“Containerships has a fleet of LNG-powered trucks, enabling the CMA CGM Group to offer LNG throughout the transport cycle.”
Containerships currently serves the Baltic markets, Russia, Northern Europe, North Africa, and Turkey.
Last year, CMA CGM and Containerships’ intra-European lines transported a total of 2.2 million twenty-foot equivalent units (TEUs) of cargo.