FRANCE's CMA CGM has launched a newbuilding programme with a US$500 million cash injection from Turkey's Yildirim Holdings that will increase its fleet 14 per cent by 208,300 TEU in addition to current capacity of 1.5 million TEU.

This backing is in addition to the financial support from France's sovereign fund, which will support recent orders of six 16,000-TEU vessels originally intended as 12,600 TEUers, three of which are already in service. Three are due for delivery in the second quarter 2015 and the remaining in its final quarter. 

Additional orders stand at 10 vessels of 9,200 TEU and three 2,100 TEUers, according to a statement from the carrier, reports Lloyd's List. 

Long-term charters to CMA CGM may be behind a recent order at Korea's Samsung Heavy Industries for five post-panamaxes, at US$84.4 million a piece, totaling $422 million by China's Bank of Communications Financial Leasing, said the report.  

These vessels are likely to be in the 9,000 TEU class, considered the workhorse of container trades due to its flexibility on north-south and South American trades.The French line's fleet expansion is part of its P3 mega alliance participation with Maersk and MSC. 

MSC has long-term lease for several vessels in its orderbook, which includes 18,000 and 9,000 TEUers. Maersk has held back from orders since contracting its 10 Triple-E vessels in early 2011 while options for a final 10 were never taken up.