Letter of intent for an investment to support Brittany Ferries’ post-Covid-19 recovery; development of LNG excellence in France
CMA CGM has agreed to make a €25M (US$29.5M) investment in Brittany Ferries, including €10M (US$11.8M) in quasi-equity. Through this agreement, CMA CGM is seeking to support Brittany Ferries’ post-Covid-19 recovery. The announcement was made at the Assises de l’économie de la mer event, the largest annual meeting of participants in France’s sea economy.
A statement explained that the partnership will help to unlock synergies between the two companies in passenger and freight transport. The statement added, “By harnessing the respective areas of expertise of the CMA CGM Group and Brittany Ferries, it will also 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 agreement establishes a commercial partnership between CMA CGM Group and Brittany Ferries by using available cargo space on board Brittany Ferries’ services to the United Kingdom, Ireland and the Iberian Peninsula. Transporting goods aboard Brittany Ferries’ roro ships will help to expand CMA CGM Group’s offering in the roro sector for the Atlantic and northern coast of France to destinations in the United Kingdom.
Brittany Ferries added, “The partnership with CMA CGM will also pave the way for Brittany Ferries to gain more expertise in freight and logistics. It will help the company 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 so it can better meet the needs of its customers.”
Through this agreement, both groups will be able to introduce new roro services.
CMA CGM and Brittany Ferries, both of which are developing LNG to power their ships, will also look at ways to share their LNG knowledge and resources in areas such as training for French crews and safety procedures. Both companies have also undertaken to introduce more environmentally friendly shipping and logistics solutions.
Two new LNG-powered ships are due to join Brittany Ferries’ fleet in 2022 and 2023. The new ropax vessels, to be named Salamanca and Santoña, will operate services between the United Kingdom and Spain.
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