CMA CGM did not take any board seats when GSL was established in 2008 (even though it had a 44% holding) so that the company could be seen to be an independent boxship owner able to charter vessels to a number of lines.
However, GSL’s fleet was, and still is, made up entirely of vessels chartered to CMA CGM.
Last week CMA CGM and its chairman Jacques Saade, filed papers with the US Securities and Exchange Commission seeking a potential change to the board make-up after the ending of a stockholders standstill agreement in August.
They
