Monday, April 23, 2018

Shipping: French Giant CMA CGM Looking to Expand Logistics Business with Investment in CEVA Logistics

Splash 24/7 headlined their report on last month's Maritime CEO Forum: "...Shipping Anywhere From 30 to 500 Years Behind the Technology Curve". Everyone is looking at logistics as the magic bullet with talk of blockchain being the silver bullet magic bullet. Some links below.

From gCaptain:
CMA CGM, the world’s third largest container shipping company by TEU capacity, will acquire 25% stake in supply chain management company CEVA Logistics as the French shipping giant looks to grow its presence in the logistics sector.

CMA CGM announced Friday that it has committed to subscribe for mandatory convertible securities of CEVA in an estimated amount between 380 and 450 million Swiss francs, or approximately USD $389-$461 million.

Headquartered in Hoofddorp, Netherlands, CEVA Logistics specializes in both freight management and contract logistics. The company employs approximately 56,000 employees and temporary/agency workers in 160 countries. In 2017, the company posted revenues of over US$7 billion....MORE
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