The Hindu Business Line : CMA-CGM wins bid for Morocco's COMANAV

In January, Morocco's Privatisation & Finance Ministry had invited international bids for privatisation of COMANAV, the country's leading shipping company that was established as early as 1946. It is now learnt that a consortium headed by CMA CGM, world's third largest container operator and France's number one, has emerged as the winning bidder.

COMANAV, the national leader in transporting passengers and freight and in managing port operations in Morocco, has been of great interest to CMA CGM which will now be able to strengthen its position in Morocco in each of the three main activities.

It might be recalled that only recently CMA CGM, through its Taiwan-based wholly owned subsidiary, acquired CNC Lines of Taiwan thus strengthening its presence in intra-Asia shipping services.

Meanwhile, Lloyd's List has reported that CMA CGM wins compensation in Saade brothers' feud. Damages amounting to $9,99,685 marks new victory for Jacques Saade, the owner of the French line, against brother Johnny.

More Stories on : Shipping | Disinvestment

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Suryakiran shows it off

In-flight surfing may soon be a reality

Moving LNG: Petronet plans joint ventures with shipping cos

`Mormugao keeping close watch on impact of export duty on iron ore'

ADB report on coastal shipping — Measures that would enable smooth sailing

Kakinada Old Port throughput crosses 3 m. t.

Maersk to slap bunker surcharge

CMA-CGM wins bid for Morocco's COMANAV

Pakistan vessels call at Indian ports

Boxtrans ready for service launch

High dwell time shows up low efficiency of Indian ports