CMA CGM has agreed to make a €25 million (US$30 million) investment in Brittany Ferries, the largest ferry company operating under the French flag, including €10 million (US$12 million) in quasi-equity.
Through this agreement, CMA CGM is seeking to support Brittany Ferries’ post-Covid-19 recovery.
Additionally, the partnership will help to unlock synergies between the two companies in passenger and freight transport, while it is also expected to help promote the development of cross-Channel shipping and underpin France’s position in the sector.
Under this agreement, a representative of the CMA CGM Group will join Brittany Ferries’ Supervisory Board.
The deal between the two firms establishes a commercial partnership through the use of available cargo space on board Brittany Ferries’ services to the United Kingdom, Ireland and the Iberian Peninsula. The transportation of goods aboard Brittany Ferries’ roll-on roll-off (RORO) ships will help expand the CMA CGM Group’s offering in the RORO sector for the Atlantic and northern coast of France to destinations in the United Kingdom.
According to a statement, the partnership with CMA CGM will help Brittany Ferries to adapt more easily to the post-Covid-19 trends in goods transportation, including the transport of unaccompanied trailers, and to offer new transport services.
Furthermore, through this agreement, both groups will be able to introduce new RORO services.
In the meantime, CMA CGM and Brittany Ferries will be looking at ways of sharing their liquefied natural gas (LNG) knowledge and resources in areas such as training for French crews and safety procedures.
