CNC, the intra-Asia container line of the CMA CGM Group, considered the third largest container shipping company in the world, has launched CMA CGM Philippines Shipping, the first 100% foreign-owned shipping line to operate a domestic service in the country. This follows recent reforms easing foreign ownership restrictions with the amendment of the Public Service Act.. CNC Pilipinas, its first Philippine-flagged vessel has already started operations, with a port rotation of Manila-Cagayan de Oro-Cebu-Manila.
CMA CGM Group is a French shipping and logistics company with headquarters in Marseille, France. The company’s revenue in 2023 reached US$47 billion making it the third largest container ship company in the world.
Shown below is CMA CGM Asia Pacific CEO Bo Wegener during the September 27, 2024 launch of CNC’s CMA CGM Philippines Shipping, the first 100% foreign-owned international shipping line to operate domestically in the Philippines following the amendment of the Public Service Act.
CNC CEO Steven Zhu presents the Luzon Visayas Mindanao Express (LVMX) serving Manila, Cagayan de Oro and Cebu.
More details in the link below.
