CMA CGM Group’s Intra-Asia short sea specialist CNC launches a new legal entity named “CMA CGM Philippines Shipping” which marks the first 100% foreign-owned international shipping line to register and operate a domestic service in the Philippines, following the government’s expanded regulations permitting foreign shipping lines to venture into domestic shipping.
To remind, CNC was acquired in 2007 by CMA CGM and became a fully integrated subsidiary of the CMA CGM Group.
The new domestic service will be launched with the Philippines-flagged vessel CNC PILIPINAS, a 1,037 teu vessel.
The ship will sail on the Luzon Visayas Mindanao Express (LVMX) shipping service, with weekly port calls rotating between Manila, Cagayan de Oro, Cebu, and back to Manila.
This is the first fully foreign-owned international shipping line to register and operate a domestic service in the country. It aims to reduce transit times and decrease logistics costs as a result.
“The Philippines holds promising potential for maritime growth and innovation given its dynamic domestic and international trade,” Steven Zhu, chief executive officer of CNC, said.
As the container liner CMA CGM claims, the service will also support the establishment of new maritime routes, improving connectivity between major ports in the Philippines to the group’s global network.
“Asia contributes significantly to our growth globally, and the establishment of CNC’s domestic shipping service in the Philippines is an important milestone for us as a business as we continue to develop our expertise and strength in our intra-Asia services,” noted Bo Wegener, chief executive officer of CMA CGM Asia-Pacific.
The Philippines’ Department of Transportation Undersecretary for Maritime, Elmer Sarmiento, commented on the launch, saying, “It is a testament to the Philippines’ commitment to fostering a competitive and dynamic maritime industry that will continue to attract international investments. This initiative will not only enhance our domestic shipping capabilities but also create valuable job opportunities for our seafarers, further strengthening our maritime sector.”
