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December 23, 2009

CMA CGM to Cancel Newbuild Orders

French container line CMA CGM said it has sought cancellation orders for 15 newbuild vessels from 45 on order. The company is also believed to be seeking a delay on the delivery of 15 more vessels. CMA CGM said it will take delivery of the largest vessels in its order book, i

By cms admin

French container line CMA CGM said it has sought cancellation orders for 15 newbuild vessels from 45 on order.

The company is also believed to be seeking a delay on the delivery of 15 more vessels.

CMA CGM said it will take delivery of the largest vessels in its order book, including a series of eight 13,800 teu container carriers, of which it has already taken delivery of a first vessel.

In November the company said it was considering cancelling a series of 3,600 teu ships, which are being built at Subic Bay in the Philippines.

The shipping line has also announced that it had secured a $500m lifeline from its banks.

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