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Tuesday, October 27, 2020

Ceva Logistics News

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CMA CGM Hit by Cyber Attack

Container shipping group CMA CGM said on Monday it is dealing with a cyber attack impacting its peripheral servers.The attack did not concern the systems of its subsidiary CEVA Logistics, it added in a statement.CMA CGM said external access to its IT applications was made unavailable to prevent the malware from spreading while its IT teams work to resolve the incident.The French-based firm later said in an update that access to the group's information systems is gradually resuming…

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CMA CGM to Invest in Dubreuil Aero in Logistics Push

Shipping group CMA CGM has agreed to buy a 30% stake in French airline company Groupe Dubreuil Aero as it continues to extend its presence in non-maritime transport.CMA CGM, the world's fourth-largest container shipping firm, said in a statement on Wednesday that it would acquire the stake through a capital increase and acquisition of ordinary shares and would obtain two seats on the board of Dubreuil Aero.CMA CGM's investment would total 70 million euros and it hoped the deal would be finalised before the end of the year…

Atit Mahajan (Image: CMA CGM)

Mahajan Named Managing Director of CMA CGM India

French container shipping company CMA CGM Group said it has appointed Atit Mahajan as managing director for CMA CGM India, effective August 1.A qualified chartered accountant with 18 years' experience in strategy, finance and cost management roles, Mahajan was most recently Chief Financial Officer, CEVA Logistics India Pvt. Ltd and was previously Chief Operating Officer, LCL Logistix, both subsidiaries of the CMA CGM Group. In the past, Mahajan has also been part of the CMA CGM…

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CMA CGM Takes $1.1 Bln Loan

Shipping group CMA CGM has obtained a 1.05 billion euro ($1.1 billion) loan to be 70% guaranteed by the French government as it seeks to bolster its cash position during the coronavirus pandemic, which has hammered international trade.The loan, secured from a consortium of banks comprising BNP Paribas, HSBC and Société Générale, has an initial one-year maturity and an extension option of up to five years, Marseille-based CMA CGM said in a statement on Wednesday.France is offering guarantees to support billions of euros in loans for French companies to help them survive the economic fallout fro

Photo: CMA CGM

COVID-19: CMA CGM Launches the Business Continuity Pack

As the COVID-19 pandemic affects all sectors of the world economy, the CMA CGM Group is taking action by launching the Business Continuity Pack, a range of solutions to adapt and protect the supply chains of its customers.Business Continuity Pack: a new global range of adapted solutions during the COVID-19 pandemicWith the Business Continuity Pack, the CMA CGM Group provides comprehensive and customized solutions to:Adjust the pace of shipments by prioritizing the fast transportation of urgent shipments…

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CMA CGM Completes Sale of Eight Terminals

CMA CGM said on Thursday it has completed the sale of stakes in eight port terminals for $815 million to its joint venture with China Merchants Port Group.Late last year, CMA CGM reached a deal with China Merchants to sell stakes in 10 port terminals to the companies' Terminal Link venture for $968 million, as part of efforts by CMA CGM to finance its acquisition of Swiss-based CEVA Logistics and reduce group debt.The first eight terminals included in the transaction are Odessa Terminal (Ukraine)…

(L-R) are: Mizanur Rahman - Chairman CEVA Bangladesh, Russell Pang – Managing Director CEVA Emerging Markets, Elaine Low – Executive Vice President CEVA Southeast Asia and Mahmud Hussain – Country Director, Bangladesh.(Photo: Ceva Logistics)

CEVA Logistics Opens Offices in Bangladesh

As part of its expansion in the emerging Southeast Asian markets, CEVA Logistics has officially opened its own offices in Dhaka and Chittagong, Bangladesh.In line with its regional development strategy, CEVA has decided to open its own offices with a fully staffed team in order to meet the country’s continuing economic expansion and increasing demand for exports.A head office located in downtown Dhaka is complemented by an operational office in Chittagong, Bangladesh’s second largest city and main maritime gateway.

Photo: CMA CGM

CMA CGM: Virus Impact Limited as China Activity Resumes

French shipping group CMA CGM said its operations in China were returning to normal after the coronavirus outbreak crippled traffic last month, forecasting the health emergency would have a limited impact on its results this year.CMA CGM, the world's fourth-largest container shipping firm, expects to return to normal fleet capacity in China from mid-March after seeing signs of industrial production picking up as of late February, it said in a results statement on Friday.The new coronavirus…

Pic: CMA CGM

CMA CGM to Raise $2bn Via Selling Terminal, Ships

French container shipping giant  CMA CGM plans to sell selected port terminals, ships and other assets to raise roughly $2 billion to finance its acquisition of CEVA Logistics, according to Reuters.Chinese state-owned conglomerate China Merchants Port has entered into a Memorandum of Agreement (MOA) with CMA CGM to acquire interests in a portfolio of 10 terminals from the French container line and its affiliates via Terminal Link for a total consideration of $955 million.As part of the deal…

a 20,000 TEU capacity CMA CGM boxship, one of gthe world's largest. CREDIT: CMA CGM

CMA CGM to Raise $2 bln to Fund CEVA Deal

Shipping group CMA CGM said it planned to raise $2 billion to help finance its takeover of CEVA Logistics, with half the cash coming from selling port assets to its joint venture with China Merchants Port Holdings Co.France-based CMA CGM, the world's fourth-largest container shipping company, bought CEVA this year to expand in land logistics, valuing the firm at about $1.7 billion.CMA CGM said it was pushing back some of Switzerland-based CEVA's financial targets by two or three years, partly because of a slowdown in some industries, such as car manufacturing.Under an agreement with China Merc

© CMA CGM

CEVA Logistics Opens Marseille HQ

On the occasion of his visit to Marseille for the National Industry Council, Prime Minister Edouard Philippe came to inaugurate the new global headquarters of CEVA Logistics, a subsidiary of the CMA CGM Group, with Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group.The Prime Minister was accompanied by Elisabeth Borne, Minister for the Ecological and Inclusive Transition, the President of the South Region, Renaud Muselier, and Nicolas Sartini, Chief Executive Officer of CEVA Logistics.With the acquisition of CEVA Logistics in May 2019…

File image: A CMA CGM boxship underway. CREDIT: CMA CGM

CMA CGM Buys Stake in Wing

CMA CGM has taken a position in Wing to support the growth of an innovative urban logistics service dedicated to e-commerce.CEVA Logistics and Wing are entering into a major industrial and commercial partnership for the benefit of their respective customers. Wing customers see a courier show up to pick up orders sold on the Internet. These are then deposited in a logistics warehouse where they are packaged and shipped. In less than 48 hours, orders are delivered to the end customer.

Pic: CMA CGM Media Gallery

Moody's Downgrades CMA CGM's Rating

Global ratings agency Moody's has downgraded the corporate family rating of French shipping major CMA CGM due to its "materially weaker" liquidity. The rating was downgraded to B2 from B1.Concurrently, the company's senior unsecured ratings were downgraded to Caa1 from B3. The outlook was changed to stable from negative."Today's rating action reflects that CMA CGM's liquidity profile has weakened materially in the last 12 months as a consequence of the acquisition of CEVA Logistics AG…

Olivier Casanova (Photo: CMA GCM)

CMA CGM Appoints Casanova Deputy CFO

The CMA CGM Group announced the appointment of Olivier Casanova as Group Deputy Chief Financial Officer.He will also serve as CEVA Logistics’ Chief Financial Officer.Casanova is a graduate from HEC. He started his career in 1991 as an investment banker then became Managing Director at SG Warburg/UBS in Paris and London. He joined Thomson in 2002 where he held various positions, notably as CFO of the Displays & Components Division and then Deputy CFO of the Group before being appointed Head of Strategy and Marketing.

A CMA CGM boxship underway in a file image (CREDIT: CMA CGM)

2Q Red Ink for CMA CGM Again

CMA CGM, the world's fourth-largest container shipping firm, reported a second straight quarterly loss as its takeover of CEVA Logistics weighed on its results, but said its business volumes remained strong thanks to growth in the U.S. economy.The French-based group said on Friday that it expected a better second half of the year, supported by previously announced plans to reduce costs and reorganise its shipping services.CMA CGM said it made a second-quarter net loss of $109 million…

Rodolphe Saadé, Chairman CEVA Logistics. Photo: CMA CGM Group

CEVA Logistics Implements Turnaround Plan

Following the friendly takeover bid for CEVA Logistics, the CMA CGM Group has implemented a turnaround plan which includes a new governance, a new brand identity and priorities reset. CEVA’s new operations center opened in Marseilles.The CMA CGM Group now holds 99.6% of CEVA's equity. Structural decisions have been made during the second quarter of 2019 to enable CEVA’s financial recovery and create the conditions of a solid and successful turnaround.Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group…

Pic: CMA CGM

CMA CGM's Turnaround Plan for CEVA

Following the friendly takeover bid for the contract logistics and freight management solutions provider CEVA Logistics, the French container transportation and shipping giant CMA CGM Group now holds 99.4% of CEVA's equity.The shipping Group is resolutely committed to CEVA's financial recovery, and has already taken major structural decisions paving the way for CEVA’s rapid return to profitability.Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, was elected…

Photo: Port of Gothenburg

Gothenburg Port Authority Appoints New CEO

Gothenburg Port Authority, Sweden has informed that Elvir Dzanic has been appointed as its new chief executive officer (CEO).Elvir is currently Vice President of Business Development at Ceva Logistics North America, based in Houston. A global company with 52,000 employees.Elvir Dzanic has wide-ranging experience in the transport sector, both globally and in Sweden. Gothenburg is also Elvir Dzanic’s home city, and he holds a degree in shipping and logistics from Chalmers University of Technology.“The Port of Gothenburg is the heart of the Swedish export and import sector…

Image: CEVA Logistics

CMA CGM Reshuffles CEVA Logistics Management

French container transportation and shipping giant appointed its Chairman and CEO Rodolph Saade as the new chariman of Swiss third-party logistics provider CEVA Logistics, thus asserting its near-full control over CEVA.Nicolas Sartini, who currently holds the position of Group Chief Operating Officer and Deputy CEO of CEVA is appointed Chief Executive Officer as from June 1st. He will bring his experience and expertise to CEVA as it embarks on a new journey. He will replace Xavier Urbain who will become Executive Advisor to Rodolphe Saadé.Marvin O. Schlanger, Victor Balli, Dr.

Pic: CMA CGM

CMA CGM Finalizes Ceva Logistics Tender

French shipping giant CMA CGM has completed its public tender offer to acquire CEVA Logistics.The French carrier has confirmed the acquisition of Ceva Logistics after announcing it holds 97.89 percent of the company’s stock and will therefore de-list it from the Zurich Stock Exchange after April 16."Merging CEVA's operations into the CMA CGM Group will strengthen its position as a worldwide leader in maritime transport and logistics. Present in 160 countries, the Group will be 110…

Renee Toh  (Photo: CEVA  Logistics)

CEVA Appoints Toh to Management Team

In a move which further strengthens its management team, CEVA Logistics has appointed Renee Toh as its Global Head of Ocean Procurement & Tradelane Management.  Effective April 2019 and based in Singapore, Renee will report directly to CEVA's Global Head of Ocean, Bertrand Simion.Toh brings extensive industry and operational experience to her new role and has a strong background in ocean freight forwarding.  With more than 20 years' experience, including working for both carriers and NVOCCs she joins CEVA from DHL Global Forwarding where she led a team of tradelane specialists.

CMA CGM Forms Venture with MACCFA

France's CMA CGM has signed a letter of intent to form a joint venture with Ethiopian company MACCFA, as well as a letter of intent with ESLSE to manage Ethiopia's Modjo port, according to a document made available by the French President's office.Marseille-based CMA CGM, one of the world's largest container shipping lines, recently became the core shareholder in Ceva Logistics, with the company looking to expand in non-maritime freight services. (Reuters, Reporting by John Irish; Editing by Sudip Kar-Gupta)

File Image: CREDIT CMA CGM

CMA CGM to Form JV with Ethiopia's MACCFA

French shipping company CMA CGM has signed a letter of intent to form a new joint venture with Ethiopian company MACCFA and to manage Ethiopia's Modjo port, according to a document made available by the French President's Elysee department.Marseille-based CMA CGM, one of the world's largest container shipping lines, recently became the core shareholder in Ceva Logistics, with the company looking to expand in non-maritime freight services.Reporting by John Irish

(Photo: Eric Haun)

CMA CGM Books Rrecord Revenue

French container shipping group CMA CGM booked record revenue in 2018 as trans-Pacific goods traffic remained buoyant despite U.S.-Chinese trade tensions, but soaring oil prices cut deep into its profits, it said on Friday.The firm's 2018 volumes rose by 9.3 percent and for the first time exceeded 20 million TEUs (Twenty-foot Equivalent Units) due to a strong performance of most of the shipping lines operated by the group, in particular the Transpacific, India/Oceania and Africa lines.Full-year revenue grew 11.2 percent to a record $23.48 billion…

Kristen DeMarco, JAXPORT Chief Commercial Officer

INSIGHTS: Kristen DeMarco, JAXPORT Chief Commercial Officer

Kristen DeMarco is JAXPORT’s Chief Commercial Officer. She is responsible for leading JAXPORT’s international cargo sales and marketing initiatives as well as tracking trends and issues related to maximizing the port’s business potential. DeMarco has nearly two decades of business development experience in the logistics industry, with a track record of successfully negotiating multi-million dollar deals and building relationships with decision-makers from some of the world’s largest companies.

Photo: Ceva Logistics

CMA CGM Aims for Ceva Logistics Breakeven in 2019

CMA CGM is aiming for Ceva Logistics to break even this year, its finance chief said on Tuesday, as the French shipping group opened a share offer to cement its control of the Swiss freight specialist.CMA CGM's public tender will offer other shareholders 30 Swiss francs ($29.75) per share, valuing Ceva at 1.67 billion francs, a price agreed after Ceva rejected a takeover bid in October from Danish freight firm DSV.Marseille-based CMA CGM, one of the world's largest container shipping lines, became Ceva's core shareholder when the Swiss company floated on the Zurich stock market last year, as p