Seatrade and CMA CGM restructure and delay vessel sharing agreement

The new vessel sharing agreement (VSA) announced earlier this year between CMA CGM and Seatrade linking Northern Europe, the East Coast of the United States, Central America, the Pacific Islands, Australia, New Zealand, Peru and the Caribbean on a weekly basis, will not proceed in its intended form.

Seatrade has in recent months evaluated its global strategic options
considering current market conditions, including the future involvement in the Meridian Service.

Seatrade has reached an agreement with CMA CGM to restructure the VSA. The service will be upgraded to a weekly service as from January 2018, and will among other vessels utilise Seatrade’s fully cellular and geared 2,200 TEU Colour Class specialised container vessels, combined with container equipment currently controlled by Seatrade.

Seatrade told that it is pleased to have reached this agreement with CMA CGM securing continuation, schedule reliability and highest possible service level for Seatrade´s major customers in the trade.

While the involvement of Seatrade in the NZ to Northern Europe trade is
reduced the Seatrade group said that it will continue to provide its Fast Direct Dedicated (FDD) services to worldwide markets for transportation of perishable cargoes.

For more information:
Fiona Schimmel
Seatrade
Tel:+32 497 475 784
fiona.schimmel@seatrade.global
www.seatrade.com

Publication date: 11/28/2017


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