CMA CGM Group announced yesterday that it has a deal to acquire the 100,000-TEU a year US Lines (USL), based in Santa Ana, California, which is a vessel sharing partner with CMA CGM's subsidiary ANL that serves the Australian-New Zealand trade.
"The two carriers currently operate with eight ships in a weekly tri-continental service," said a CMA CGM press release. "Both lines will continue to operate under their own brands, with USL managed by its existing management team."
USL is composed of five companies with a 2007 estimated turnover of US$145 million and has seven chartered vessels in the 1,100 TEU to 1,350 TEU range and employs 113 people.
The acquisition of US Lines is in line with the CMA CGM aim of reinforcing the position of the ANL, said a company statement. The complementarity of US Lines and ANL allows a more global solution on the triangular trade connecting the US west coast, Australia, New Zealand and south China, the company said.
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