COMPAGNIE Generale Maritime (CGM) and Transportacion Maritime Mexicana (TMM) have formed a partnership to transport reefer and general cargo between Hong Kong and northern Europe.
The agreement will also apply to cargo transported between Central America and the Caribbean.
CGM will sell its 80 per cent interest in Internationale Frucht-import Gesellechaft Weichert and Co (IFGW) to Global Reefer Carriers (GRC).
German firm IFGW is the exclusive marketing and sales representative of Del Monte for northern and central Europe.
CGM will also sell a 51 per cent indirect stake in Horn Linie, another CGM subsidiary, to GRC.
The remaining 49 per cent will be sold to CGM Sud, its subsidiary in charge of Caribbean, Latin America, and African ocean trades.
