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Displaying items by tag: La Provence

French media are reporting that operator CMA CGM is offering €81m ($92m) for a controlling 89% stake in 'La Provence', a daily published in Marseille,the French liner giant’s home city, so writes Tradewinds.

CMA CGM’s bid is said to easily exceed the only rival offer submitted by NJJ Presse Sud, a holding controlled by French media entrepreneur Xavier Niel.

On top of the outright acquisition price, CMA CGM chief executive Rodolphe Saade also pledged to invest an additional €35m in order to spruce up the newspaper.

The 89% stake in La Provence, a title with a circulation of about 80,000 copies in 2020 according to Wikipedia, is sold via court proceedings after the death last year of its former owner Bernard Tapie — a controversial French media mogul.

CMA CGM did not immediately respond to a request for comment or to clarify whether the bid comes from the company or personally from Saade, who has been open about wanting to invest in the newspaper.

When quizzed in an interview with French daily Le Monde earlier this month about the reasons for his interest, Saade was quoted as saying: “Don’t look for any complex reasons: I read the paper and I like it. La Provence is on sale, so I went for it.”

An investment in La Province would help safeguard hundreds of jobs at the newspaper. In line with booming profits during the coronavirus pandemic (see graph), big liner companies like CMA CGM have been eager to display more social responsibility amid calls for windfall taxes to be imposed on them.

In a similarly motivated move, CMA CGM invested $30m in ailing compatriot Brittany Ferries last year, to help the shortsea operator recover from its loss of passenger traffic during the Covid-19 pandemic.

For further reading on the French containership giant and European rival, Meditterranean Shipping Company (incl. Irish operations) that also is looking into making substantial investments.

Published in Ports & Shipping

Ferry & Car Ferry News The ferry industry on the Irish Sea, is just like any other sector of the shipping industry, in that it is made up of a myriad of ship operators, owners, managers, charterers all contributing to providing a network of routes carried out by a variety of ships designed for different albeit similar purposes.

All this ferry activity involves conventional ferry tonnage, 'ro-pax', where the vessel's primary design is to carry more freight capacity rather than passengers. This is in some cases though, is in complete variance to the fast ferry craft where they carry many more passengers and charging a premium.

In reporting the ferry scene, we examine the constantly changing trends of this sector, as rival ferry operators are competing in an intensive environment, battling out for market share following the fallout of the economic crisis. All this has consequences some immediately felt, while at times, the effects can be drawn out over time, leading to the expense of others, through reduced competition or takeover or even face complete removal from the marketplace, as witnessed in recent years.

Arising from these challenging times, there are of course winners and losers, as exemplified in the trend to run high-speed ferry craft only during the peak-season summer months and on shorter distance routes. In addition, where fastcraft had once dominated the ferry scene, during the heady days from the mid-90's onwards, they have been replaced by recent newcomers in the form of the 'fast ferry' and with increased levels of luxury, yet seeming to form as a cost-effective alternative.

Irish Sea Ferry Routes

Irrespective of the type of vessel deployed on Irish Sea routes (between 2-9 hours), it is the ferry companies that keep the wheels of industry moving as freight vehicles literally (roll-on and roll-off) ships coupled with motoring tourists and the humble 'foot' passenger transported 363 days a year.

As such the exclusive freight-only operators provide important trading routes between Ireland and the UK, where the freight haulage customer is 'king' to generating year-round revenue to the ferry operator. However, custom built tonnage entering service in recent years has exceeded the level of capacity of the Irish Sea in certain quarters of the freight market.

A prime example of the necessity for trade in which we consumers often expect daily, though arguably question how it reached our shores, is the delivery of just in time perishable products to fill our supermarket shelves.

A visual manifestation of this is the arrival every morning and evening into our main ports, where a combination of ferries, ro-pax vessels and fast-craft all descend at the same time. In essence this a marine version to our road-based rush hour traffic going in and out along the commuter belts.

Across the Celtic Sea, the ferry scene coverage is also about those overnight direct ferry routes from Ireland connecting the north-western French ports in Brittany and Normandy.

Due to the seasonality of these routes to Europe, the ferry scene may be in the majority running between February to November, however by no means does this lessen operator competition.

Noting there have been plans over the years to run a direct Irish –Iberian ferry service, which would open up existing and develop new freight markets. Should a direct service open, it would bring new opportunities also for holidaymakers, where Spain is the most visited country in the EU visited by Irish holidaymakers ... heading for the sun!