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CMA CGM to buy Bolloré Logistics for €5 billion
Bolloré Logistics, the Bolloré Group’s transport and logistics arm, has accepted the French shipowner’s offer to buy the company.
Bolloré Logistics, the transport and logistics arm of the Bolloré group, has announced that it has accepted a purchase offer from French shipping company CMA CGM based on an enterprise value of €5 billion. The two companies had entered into exclusive negotiations on 18 April, before CMA CGM submitted its offer to purchase 100% of Bolloré Logistics’ activities.
4.65 billion euros
According to Bolloré, “the sale price would be €4.65 billion before calculation of debt and cash at the date of completion”. CMA CGM had explained that the proposed acquisition was in line with the Group’s strategy. A strategy based on “maritime transport and logistics. And which aims to offer and develop complete solutions to support its customers’ supply chains”.
Long in the red, CMA CGM has taken full advantage of the overheating in the shipping industry created by the Covid-19 crisis, with record net profits of more than €23 billion in 2022. Outperforming all the CAC 40 groups. Since 2019, the company headed by Rodolphe Saadé has increased its number of acquisitions and holdings in French and foreign flagships. From Ceva Logistics to Air France-KLM and Eutelsat.
Bolloré is also refocusing on the media, notably via the giant Vivendi (owner of Canal+, Havas and Editis). Bolloré now has a majority stake in Lagardère. Its transport and logistics activities will represent sales of €7.1 billion by 2022. It also has operations in around a hundred countries, with 13,500 employees.
Source: Le Point
Volume contraction slows in North America’s west coast ports
In March 2023, the rate of contraction of laden imports at North America’s major west coast ports (NAWC) decreased on an annual basis compared with 2019.
“Bien qu’il puisse très bien s’agir d’une détente temporaire, cela pourrait également être une indication de la normalisation des conditions du marché”, a déclaré Alan Murphy, PDG de Sea-Intelligence.
La figure suivante illustre l’augmentation du volume entrant en charge de janvier 2020 à mars 2023.
Alan Murphy a expliqué que même si la croissance en glissement annuel (ligne bleue) semble très mauvaise en termes de contraction substantielle des volumes, les clients doivent garder à l’esprit qu’en raison de la nature volatile de la demande au cours des deux dernières années, une comparaison en glissement annuel conduira involontairement à une analyse faussée, car la croissance relativement élevée de la demande au cours des mêmes mois en 2022 signifierait que toute croissance inférieure à ce niveau, même si elle est conforme à la base de référence pré-Covid, ressemblerait à une contraction significative des volumes.
This is why Sea-Intelligence includes the annualised figures, which reveal that the contraction in laden imports was fairly consistent in January and February 2023, at around -5.5%, with the March figure improving to -0.7%.
Alan Murphy explained that although year-on-year growth looks very poor. In terms of a substantial contraction in volumes. Customers should bear in mind that due to the volatile nature of demand over the last two years, a year-on-year comparison will unintentionally lead to a skewed analysis. This is because the relatively high growth in demand in the same months in 2022…
Contraction in volumes
A similar trend can be observed for total volumes handled. Accompanied by a maximum contraction of -5.0% in February 2023. This was followed by a recovery in March, when the contraction eased to -2.2%.
What is more alarming, according to Sea-Intelligence’s analysis, is that if empty exports have started to fall. This means that the rate of contraction in laden exports has not slowed. The most likely reason is that these volumes are exported via the east coast. This could lead to a loss of volume for the West Coast.
Morocco – Portugal: developing cooperation in the transport sector
On Friday 12 May 2023, Mr Mohammed ABDELJALIL, Minister of Transport and Logistics, held a bilateral working meeting in Lisbon, Portugal, with Mr João GALAMBA, Portuguese Minister of Infrastructure, accompanied by Mr Frederico Francisco, Secretary of State for Infrastructure. This meeting is part of the proceedings of the 14th High-Level Meeting (HLM), under the theme “Morocco-Portugal: Confirmation of an exemplary strategic partnership”, on 12 May 2023 in Lisbon.
This meeting was an opportunity for both parties to praise the excellent cooperation links between the two countries in various fields. In particular in the maritime, road, rail and air transport sectors.
With regard to maritime transport, the two Ministers underlined the shared desire of the two countries to work towards the launch of a passenger shipping line between the two countries. They also agreed to strengthen cooperation in the field of maritime training. They also agreed to expand sustainable development and the protection of the marine environment and ports. They also agreed to organise a study day to share experiences in maritime surveillance.
International road transport
With regard to road transport, the two leaders welcomed the success of the exchange of related actions. They agreed to grant an additional quota of international road transport licences in 2022. They also agreed to hold a meeting of the Joint Committee on International Road Transport before the end of 2023.
The two parties also agreed to update cooperation in the rail sector. And this between the Office National des Chemins de Fer (ONCF) and its Portuguese counterpart in the light of convergences… In terms of vision and development of the high-speed line network.
The two officials stressed the need for continued communication between the two ministries. In order to deepen bilateral cooperation between the two countries.
Source : Maritimenews
Mr ABDELJALIL highlights the Government’s strategy to support freight transport companies
The Minister of Transport and Logistics told the House of Councillors on Tuesday 02 May 2023, in response to a question about the government’s strategy to support companies operating in the field of goods transport, that the Ministry had taken a series of measures to help companies in the sector, given the importance of this sector to the national economy.
The Minister emphasised that road haulage companies operating for hire or reward had been included in the categories benefiting from exceptional support for professionals in the road transport sector. He noted that some 31,000 companies operating nearly 71,000 lorries had benefited to the tune of three billion dirhams.
ABDELJALIL added that an annual sum of 250 million dirhams is earmarked for renewing the road transport fleet. He added that 1,527 requests had been satisfied and 683 subsidies paid. All at a cost of around 95 million dirhams. Some 600 subsidies are in the process of being paid. However, applications have been open since 19 April for the same programme for 2023.
He indicated that the driver training programme would continue at a cost of 100 million dirhams in 2022. He explained that 100,000 people had registered for the programme, while 60,000 professional drivers had benefited from it. In 2023, 40,000 people will benefit from this programme.
Source : Maritimenews