French shipping giant CMA CGM is close to finalizing a major newbuilding deal with a Chinese shipyard for the construction of a series of ultra-large container vessels, according to Greek media reports.
Shipbrokers and market sources have disclosed that CMA CGM has signed a Letter of Intent (LoI) with Dalian Shipbuilding Industry Corporation (DSIC), a subsidiary of China State Shipbuilding Corporation, for the construction of six 22,000 TEU LNG dual-fuel container vessels with four option vessels.
CMA CGM’s newbuilding project has yet to disclose specific construction costs. For reference, another European shipowner, Mediterranean Shipping Company (MSC), recently ordered similarly sized ultra-large dual-fuel container vessels from Hengli Heavy Industries at a cost of $220 million each, suggesting CMA CGM’s order price may fall within this range. Based on this estimate, CMA CGM’s large dual-fuel container vessel order will cost at least $2 billion.
According to previous reports, CMA CGM initially disclosed plans to build up to 12 new vessels, each costing between $180 million and US$220 million, with deliveries expected between 2028 and 2029. However, the number of the order that has been made public is currently 10, and the final number of order is pending the official announcement of the shipbuilding contract.
Reports at the time indicated that CMA CGM had previously held discussions with five Asian shipyards regarding the construction project, including two Chinese shipyards and three South Korean shipyards—HD Hyundai Heavy Industries, Hanwha Ocean, and Samsung Heavy Industries. According to the latest information, Chinese shipyard has won the bid in this round of order competition.
At the beginning of this year, CMA CGM placed orders for 24 LNG dual-fuel powered container ships with Chinese and Korean shipyards, including 8+4 18,000TEU container ships from Jiangnan Shipyard, with each ship costing approximately US$208 million and a total value of nearly US$2.5 billion; and 12 18,000TEU container ships from HD Hyundai Heavy Industries, with each ship costing approximately US$215 million and a total value of nearly US$2.6 billion.
If the above-mentioned intention order is implemented, it means that CMA CGM will invest at least US$7 billion in the new shipbuilding market this year, bringing over 30 additional vessels to its order book.
Additionally, shipping broker sources indicate that CMA CGM is also considering ordering container vessels ranging from 1,000 TEU to 6,000 TEU in capacity.
CMA CGM was founded in 1978 and remains privately owned by the Saadé family. Alphaliner data shows that CMA CGM boasts a fleet of 688 vessels with a total capacity of over 4 million TEUs and a global market share of approximately 12%, making it the world’s third-largest container shipping company. CMA CGM also holds the second-largest orderbook in the container market, excluding unconfirmed shipbuilding projects. CMA CGM has 95 new vessels under construction with a total capacity of 1.5 million TEUs, the majority of which are being built by Chinese shipyards.
Additionally, according to CMA CGM’s Q2 2025 financial report released at the end of July, the company has already deployed two 23,000 TEU LNG dual-fuel container vessels into service. It anticipates expanding its dual-fuel fleet to 162 vessels by 2029, including 24 methanol dual-fuel vessels. To enhance its LNG bunkering capabilities, the company has established a joint venture with French energy giant TotalEnergies in Rotterdam.
The newbuild container vessel market has shown robust performance this year and continues to grow steadily. Clarksons’ latest monthly report indicates that 246 container vessels were ordered between January and July 2025, totaling 2.5 million TEU in capacity—more than double the decade-long average. Analysts note that the container vessel market is leading the adoption of alternative fuels, with 76% of this year’s newbuild capacity incorporating such technologies.
Large container vessels dominate the consistently strong container vessel order book. Ship broker Xclusiv statistics show that, measured in TEUs, orders for Neo-Panamax container vessels account for 30% of the fleet, Very Large Container Vessels 26%, and Ultra Large Container Vessels a whopping 75%. Mediterranean Shipping Company, for example, has placed orders for over 20 ultra-large container vessels in the 21,700-22,000 TEU class from Chinese shipyards this year.
Overall, the order book as a percentage of the fleet stands at 31% in TEU terms, compared to just 22% during the same period in 2024. Xclusiv further reports that the global fleet’s average age is 14 years, with nearly half (47%) of vessels exceeding 16 years old.