Analysis – how long before CMA CGM heads to the stock market?

I believe that it is no coincidence that France’s CMA CGM, the third-largest container shipping line in the world, emerged as the leading acquirer of NOL soon after its closest rival in terms of capacity operated, Germany’s Hapag-Lloyd, priced its IPO below range in early November. The French group had little choice but to chase inorganic growth, hoping its lenders would back its plan by providing cheap funding.

By then, market leader Maersk – which had been increasingly cautious with regard ...