CMA CGM to establish regional headquarters in Singapore after NOL takeover

To boost Singapore’s position as a maritime hub.

French shipping company CMA CGM will establish its regional headquarters in Singapore following its decision to acquire a majority stake in Neptune Orient Lines.

The companies said in a joint statement that CMA CGM attaches significant importance to Singapore and the region for the deployment of its strategy in Asia.

CMA CGM attaches significant importance to Singapore and the region for the deployment of its strategy in Asia.

“The combined entity would reinforce Singapore’s leadership in the maritime and shipping sector as the city-state seeks to increase maritime services and transportation volumes, including committing more volumes through Singapore,” said the release.

The establishment of its regional HQ in Singapore will consolidate CMA CGM’s longstanding presence in Asia and allow the company to provide efficient and quality services to customers in the region.

“We note and welcome the commitment of CMA CGM to enhance Singapore’s position as a key maritime hub and grow Singapore’s container throughput volumes,” said Tan Chong Lee, Head Portfolio Management at Temasek.

“We are supportive of this transaction as it presents NOL with an opportunity to join a leading player with an extensive global presence and solid operational track record,” added Tan.

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