Image:CMA CGM
French shipping giant CMA CGM has officially taken ownership of five 2,300 TEU feeder vessels it had been chartering from Dutch operator Seatrade Groningen. The vessels, named Seatrade Blue, Seatrade Green, Seatrade Orange, Seatrade Red, and Seatrade White, were purchased last week. Although the financial details of the transaction were not made public, industry data from VesselsValue places each ship’s market value at approximately $30 million.
CMA CGM had initially chartered the vessels in mid-2020 on five-year contracts, paying $20,000 per day per vessel. These ships were deployed on the carrier’s Panama Direct Line, connecting key routes across Australia, New Zealand, the US East Coast, Jamaica, Panama, and Northern Europe. This acquisition aligns with CMA CGM’s ongoing strategy to expand its fleet through both newbuilds and second-hand vessel purchases, a tactic similar to what competitor MSC has also been pursuing.
Originally built by Zhejiang Ouhua Shipbuilding, now rebranded as Zhejiang East Coast Shipbuilding, each of the feeder vessels was constructed at a cost of $26 million. This represented Seatrade’s initial venture into the fully cellular container ship market. Seatrade financed these vessels through leasing agreements, with four backed by ICBC Financial Leasing and one by Japanese provider Hyuga Kaiun.
As CMA CGM continues to bolster its fleet, its active capacity now stands at nearly 3.8 million TEU, including 286 owned vessels with a combined capacity of 1.72 million TEU. Furthermore, the carrier’s orderbook currently includes 76 vessels, totaling 1.05 million TEU, ensuring that the company remains a significant player in global shipping markets.
