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CMA CGM Puts Two Post-Panamax Container Vessels Up for Sale

Nov. 21 (Bloomberg) -- CMA CGM SA, the world’s third-largest container line, said it’s selling two so-called post-panamax vessels.

The ships are the CMA CGM Wagner and the CMA CGM Verdi, the Marseille, France-based company confirmed by e-mail today. CMA CGM declined to say whether it had reached agreement on or finalized a sale.

Both vessels, built in 2004, were sold for $45 million to undisclosed Greek interests, Clarkson Research Services Ltd., a unit of the world’s biggest shipbroker, reported Nov. 19. A post-panamax ship is too large to navigate the Panama Canal.

The French company has 408 vessels and nine more on order at shipyards, making it bigger than any competitor except Maersk Line and Mediterranean Shipping Co., according to Clarkson.

CMA CGM sold 25 vessels between March 2010 and Nov. 18 of this year for $627 million, according to London-based Seasure Shipping Ltd. Seasure publishes VesselsValue.com, an assessor and tracker of sales and purchases of container ships, tankers and dry-bulk vessels.

To contact the reporter on this story: Michelle Wiese Bockmann in London at mwiesebockma@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net

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