French container transport and shipping company CMA CGM is launching a $1.5bn five-year investment fund to speed up its energy transition in shipping and logistics. The energy fund will aim to support the industrial production of new fuels and low-emission transport solutions. This includes maritime, overland, and air freight shipping and port and logistics services. CMA CGM plans to develop a biomethane production and liquefaction project to produce up to 100k tonnes by 2025, with the target of doubling output by 2027. In June, the company announced a joint plan with energy group Engie to produce biomethane. The transport company had earlier reported a Q2 revenue growth of 57% YoY to $19.5bn driven by the maritime shipping business and its profit more than doubled to $7.6bn. As of June 2022, the company had net debt of $5.4bn, which saw a reduction of $1.5bn during the quarter.
CMA CGM’s EUR 7.5% 2026s traded higher by 0.1 points to 103.46, yielding 5.89%.
For the full story, click here