ABIDJAN, Sept 20 (Reuters)– CMA CGM will certainly consider chances in container delivery set off by the collapse of South Korea’s Hanjin Shipping, the French team’s vice chairman stated on Tuesday.

Hanjin, the globe’s 7th biggest container line, declared receivership last month, leaving greater than 100 ships and also their freight mixed-up.

“With the collapse of Hanjin, there will be a wave of consolidation in the sector and CMA CGM is on the look out for opportunities if they should arise,” Rodolphe Saade informed reporters.

“We think that small or medium sized operators are going to go bust or be forced to join large operators like us,” he stated.

Family possessed CMA CGM has actually strengthened its setting as the 3rd biggest container line with its purchase this year of Singapore- based Neptune Orient Lines, which has actually offered it market management on trans-Pacific courses.

China’s Cosco informed Reuters on Monday that Hanjin’s death had actually moved need to various other lines and also can aid products prices to recoup in 2017.

CMA CGM and also Cosco are preparing with various other companions to introduce a brand-new vessel-sharing partnership following year to manage surplus of ships and also failing financial development.

Saade, talking at the launch of a training program for African supervisors, stated CMA CGM had actually made it a top priority to broaden in the continent which presently makes up 15 percent of its sales.

The team was creating well in West and also East Africa, with the exemption of Nigeria and also Angola where weak oil rates have actually harmed delivery company, stated Bertrand Simion, head of CMA CGM’s African lines. (Reporting by Ange Aboa; Writing by Gus Trompiz; Editing by Bate Felix/Ruth Pitchford)

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