CMA CGM braces for an even greater financial hit from French windfall tax
French MPs have amended a bill before parliament that would make a temporary windfall tax ...
AAPL: SHIFTING PRODUCTIONUPS: GIVING UP KNIN: INDIA FOCUSXOM: ANOTHER WARNING VW: GROWING STRESSBA: OVERSUBSCRIBED AND UPSIZEDF: PRESSED ON INVENTORY TRENDSF: INVENTORY ON THE RADARF: CEO ON RECORD BA: CAPITAL RAISING EXERCISEXPO: SAIA BOOSTDSV: UPGRADEBA: ANOTHER JUMBO FUNDRAISINGXPO: SAIA READ-ACROSSHLAG: BOUYANT BUSINESS
AAPL: SHIFTING PRODUCTIONUPS: GIVING UP KNIN: INDIA FOCUSXOM: ANOTHER WARNING VW: GROWING STRESSBA: OVERSUBSCRIBED AND UPSIZEDF: PRESSED ON INVENTORY TRENDSF: INVENTORY ON THE RADARF: CEO ON RECORD BA: CAPITAL RAISING EXERCISEXPO: SAIA BOOSTDSV: UPGRADEBA: ANOTHER JUMBO FUNDRAISINGXPO: SAIA READ-ACROSSHLAG: BOUYANT BUSINESS
Dozens of containers onboard a CMA CGM vessel have fallen overboard during a rough sailing round South Africa – extreme weather conditions that have had adverse effects on sailing schedules.
On Tuesday, the CMA CGM Benjamin Franklin lost 44 containers overboard during “unexpectedly strong adverse weather conditions” off the South African coast on its westbound voyage from Asia to Europe.
An additional 30 containers were reported to be damaged.
The French carrier said: “CMA CGM immediately notified the relevant authorities and will proceed to Cape Town for a thorough assessment of the situation, taking all relevant and necessary measures to ensure a safe prosecution of the sea voyage.”
No injury to crew has been reported, no pollution and no major damage to the vessel, “which remains fully seaworthy”, said CMA CGM, adding that after checks it had established all lost containers held harmless goods.
Maritime claims consultant WK Webster said: “It is possible that claims for physical loss or damage to cargo and recovery issues may arise as a result of this incident and we have cargo surveyors on hand to assess the extent of damage to cargo, if required.”
South Africa was hit with adverse weather conditions at the start of the week, with strong winds, high waves and heavy rain along its coastline – especially between Cape Town and Port Elizabeth.
Yesterday, Maersk advised its customers of a “recovery plan” for its Mesawa service that connects India and the Middle East with West Africa via South Africa. The service deploys 11 ships, with an average of 5,100 teu, and it is a joint offering with CMA CGM (Midas1),
One of the vessels, the CMA CGM Masai Mara, experienced delays into Cape Town, “due to the unfavourable sailing conditions”, and the Danish carrier warned that it “was not the only vessel impacted by the weather”.
The schedules of the CMA CGM Kribi and CMA CGM Lebu have also been adjusted “in an attempt to offer maximum coverage in South Africa and ensure weekly arrivals into Jebel Ali”.
The CMA CGM Lebu will omit Cape Town and proceed to Port Elizabeth on 16 July, then to Jebel Ali for 28 July. Meanwhile, CMA CGM Masai Mara will berth in Cape Town tomorrow, is scheduled to call at Coega on 20 July and will arrive at Jebel Ali on 4 August, a week behind schedule.
The CMA CGM Kribi will arrive at Cape Town on 20 July, a week later than its scheduled berthing window. It is then expected in Coega on 25 July and will be delayed by a week into Jebel Ali, set to arrive 11 August.
Singapore headquartered ocean carrier, ONE, also advised its customers that due to adverse weather conditions the M/V ONE Reassurance v.242S/242N will omit her Cape Town call.
Instead, cargo originally planned for the M/V ONE Reassurance v.242N in Cape Town will be transferred to the M/V Santa Isabel v.242N in Durban.
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