CMA CGM announces $20bn investment in US maritime industry over 4 years

^{Photo credit: CMA CGM}

French shipping giant CMA CGM Group has unveiled a landmark $20bn investment plan in America’s maritime transportation, logistics and supply chain capabilities over the next four years. Rodolphe Saadé, chairman and CEO of CMA CGM Group, stood alongside US President Donald Trump in the Oval Office last week.

Saadé said the French liner company will grow its U.S.-flagged fleet, expand the capacity of key container ports on both coasts, develop warehousing across the country, and establish a significant air cargo hub in Chicago. The Group will also deploy five new Boeing 777 freighters, operated by American pilots.

The investment strengthens its historical maritime transport and logistics partnership with the United States, supporting the economy, boosting American exports, and creating 10,000 new jobs.

“You know, we lost our way for many years,” US President Donald Trump said last week.

“We haven’t done anything. We used to build a ship a day and now we essentially don’t build ships.”

“We are going to start that and we’re going to be announcing, next week or the week