shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

Home » CMA CGM to Divest Out of Its Ownership in Russian Terminals

CMA CGM to Divest Out of Its Ownership in Russian Terminals

by Joshua
January 5, 2023
in Featured, News

Through its subsidiary CMA Terminals, France-based CMA CGM has entered into a deal to divest its ownership in Russia’s Yanino’s Logistics Park and Moby Dik ocean terminal. This is the latest in western shipping companies dissolving their stakes in Russian companies.

CMA CGM

As it stands, CMA Terminals holds 25% ownership in the Russia’s Moby Dik ocean terminal and the Yanino Logistics Park, whereas the rest belongs to Russian Terminal company, Global Ports Investments PLC (GPI). A similar ownership is shared by the above mentioned two parties in Finnish, “Multi Link Terminal”, which operates at the Port of HaminaKotka.

In the deal, CMA CGM will exchange its 25% ownership in the Russian terminals for an additional 25% stake in the Finnish terminal operator Multi Link Terminal.

After the exchange Global Ports will assume full control of the mentioned Russian terminals and have 50% ownership in the Finnish, Multi Link Terminal. CMA CGM will own the rest of the 50% in Multi Link.

The financial sanctions placed on Russia prevent western companies from transferring money to Russian companies, even when divesting their Russian investments. This kind of non-cash asset swap has been popular among western companies as it complies with financial sanctions.

 

shippingposition

Kindly like us on Facebook/twitter


Tags: CMA CGM

Related Posts

Peak Season Hopes Dashed As Freight Rates Slip Again

Peak Season Hopes Dashed As Freight Rates Slip Again

May 29, 2023
FG Releases Vessel, 26 Crew Of MT Heroic Idun After 288 Days In Custody

FG Releases Vessel, 26 Crew Of MT Heroic Idun After 288 Days In Custody

May 29, 2023
Inter-Agency Rivalry Fingered As FG Fails To Renew Concession Agreement Of Terminal Operators

Inter-Agency Rivalry Fingered As FG Fails To Renew Concession Agreement Of Terminal Operators

May 29, 2023
ANLCA Loses ASECO Chairman Aloy Anokuru

ANLCA Eastern Zone Endorsed Farinto, Ukwu Candidacy

May 29, 2023

Latest News

Nigeria Stock Exchange Closes Week With 42 Gainers 12 Losers

Nigeria Stock Exchange Closes Week With 42 Gainers 12 Losers

May 29, 2023

Rate Hike: Expect Higher Prices, MAN, NECA Warn CBN

Most Diseases Are Preventable

Benefits Of Bitter Kola

NNPC Begins Oil Drilling In Chad Basin, Borno State

NUPRC Signs Seven Regulations Into Law

Reps Probe Malami Again Over $2.4bn Illegal Oil Sale

Average Price of 5kg Cooking Gas Stands At N4,642 in April — NBS

Stakeholders Seek Answers On Neglected Public Refineries

Peak Season Hopes Dashed As Freight Rates Slip Again

Weekly Global Marine Incidents May 29, 2023

Crew Kidnapped From Eagle Bulk Vessel Off West Africa Released

kindly like our Facebook page

Health

FG To Place 80% Hypertensive Nigerians On Standard Treatment
Health

FG To Place 80% Hypertensive Nigerians On Standard Treatment

May 22, 2023

The Federal Government said it has instituted strategic interventions at the Tertiary, Secondary, and Primary Health Care levels to screen...

High Blood Pressure Explained

High Blood Pressure Explained

May 22, 2023
Some Impressive Health Benefits Of Onions That May Interest You

Some Impressive Health Benefits Of Onions That May Interest You

May 22, 2023
Failed IVF Cycles Not End Of Parenthood Journey

Failed IVF Cycles Not End Of Parenthood Journey

May 15, 2023
COVID-19: Fifth Wave Looms As Nigeria Records Three Deaths In One Week

COVID-19: Nigeria Embarks On Integrated Health Emergency

May 15, 2023
Some Health Benefits Of Eating Groundnuts (Peanuts)

Some Health Benefits Of Eating Groundnuts (Peanuts)

May 15, 2023
BEWARE: Too Much Sex Is Bad For You!

DANGER: Why Sudden Death Happens During Sex – Expert

May 8, 2023
Five Early Warning Signs Of Pancreatic Cancer That Could Save A Life

Five Early Warning Signs Of Pancreatic Cancer That Could Save A Life

May 8, 2023
All You Need To Know About Snoring

All You Need To Know About Snoring

May 1, 2023
Salt: Why You Need It, How Much Is Too Much, and How to Cut Back

Salt: Why You Need It, How Much Is Too Much, and How to Cut Back

May 1, 2023

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition