The deal sees Brittany Ferries receive a €25 million investment, including €10 million in quasi-equity, to help with its coronavirus recovery.
In a statement, CMA CGM said the partnership would “help to unlock synergies between the two companies in passenger and freight transport.” The shipping giant added that it would also “help promote the development of cross-Channel shipping and underpin France’s position in the sector.”
Under the terms of the agreement, a representative of the CMA CGM Group will join Brittany Ferries’ Supervisory Board.
In addition, the agreement establishes a commercial partnership between the CMA CGM Group and Brittany Ferries through the use of available cargo space on board Brittany Ferries’ services to the United Kingdom, Ireland and the Iberian Peninsula. The transportation of goods aboard Brittany Ferries’ roll-on roll-off (roro) ships will help expand the CMA CGM Group’s offering in the roro sector for the Atlantic and northern coast of France to destinations in the United Kingdom.
CMA CGM also claims the deal shall “help the company to adapt more easily to the post-Covid-19 trends in goods transportation, including the transport of unaccompanied trailers, and to offer new transport services so it can better meet the needs of its customers.”
Through this agreement, both groups will be able to introduce new roro services.
Besides the above, the two companies say they will now be sharing their LNG knowledge, as well as resources in areas such as training for French crews and safety procedures.