French container shipping company CMA CGM Group has placed an order for 10 containerships with 15,000 TEU capacity. The $1.2bn deal with Jiangnan Shipyard Group will see the vessels built by Hudong-Zhonghua Shipbuilding Group and China State Shipbuilding Corporation. Despite the order's size, analysts played down any indications of a turnaround in the containership business, which is struggling to cope with an uptick in market supply, low charter rates, a slowing global economy and the US-China trade war.
French container shipping company CMA CGM Group has placed an order for 10 containerships with 15,000 TEU capacity. The $1.2bn deal with China State Shipbuilding Corporation will see the vessels built by Hudong-Zhonghua Shipbuilding Group and Jiangnan Shipyard Group. Despite the order's size, analysts played down any indications of a turnaround in the containership business, which is struggling to cope with an uptick in market supply, low charter rates, a slowing global economy and the US-China trade war.