CMA CGM Highlights French Ties with New Class of Ultra-Large Boxships

Chairman and Chief Executive Officer of CMA CGM Group Rodolphe Saadé used a prestigious forum in France today to highlight the company’s next class of ultra-large containerships and its ties to France. Speaking before French President Emmanuel Macron, Saadé said it was a step to emphasize the company’s long-term commitments to France and deflect from some of the criticisms of the company.

Speaking at the Assises de l’Économie de la Mer event, CMA CGM highlighted its investment, reportedly valued at $2 billion for a new class of 24,000 TEU ultra-large containerships. The first of the ships was recently floated out at China’s Yangzijiang Shipbuilding, with the company saying it will take delivery of 10 ships of the class starting in 2026. While they have similar dimensions to the company’s current large vessels (399 meters / 1,309 feet in length), capacity increased to 24,212 TEU with 2,200 reefer slots. The ships are dual-fuel LNG and will be compatible with biomethane and e-methane.

CMA CGM said it will register the new class in France, after having earlier this year registered its new large vessel in Singapore and recently highlighted plans for investments in the U.S. and reflagging vessels to India.

“By choosing France, CMA CGM is making a powerful statement in favor of French maritime and logistics sovereignty on the global stage,” CMA CGM asserted. It said the move is part of the group’s “determination to strengthen France’s maritime competitiveness.” It noted that France is the world’s second-largest maritime domain.

To further emphasize the connection to France, the company said the class will bear the names of iconic French monuments and landmarks. This includes: Notre Dame, Panthéon, Orsay, Luxembourg, Pont Neuf, Versailles, Austerlitz, Nation, Cluny, and Longchamp. Further, the ships will call regularly at Le Havre and Dunkirk as part of their route between Northern Europe and Asia.

The decision to flag the ships in France means that the company will also be recruiting 135 additional French seafarers to operate the ships. The company said that it will mean an additional cost of between approximately $17.5 million and nearly $20 million per year versus operating with a foreign flag registration.

CMA CGM has been criticized in France for its lavish profits and low tax rate despite the country’s economic challenges. In addition, the company has lobbied to maintain tax breaks, including a tonnage tax, versus the calls to require the company to pay the higher corporate tax rate.

The group is in the midst of an expansion effort that calls for an additional 129 vessels with a total capacity of more than 1.7 million TEU, according to Alphaliner. The company highlights that it currently has a fleet of over 650 ships (total capacity of just over 4 million TEU) and that in 2024 it carried over 23 million TEU. The larger group has also expanded its logistics operations, launched air cargo including acquiring Air Belgium, started car carrier operations, purchased a ferry operator, and launched a media division that is the third largest in France.