Page 34 - Next Generation 2015 - Digtial Issue
P. 34
Next Generation Europe
Having been groomed
for the top job at CMA
CGM, Jacques’ son
has been making
his own mark on the
container shipping
world
France
Rodolphe Saadé
RODOLPHE Saadé is increasingly the Maritime d’Affrètement in 1994, shortly for a transhipment hub in Kingston,
public face of CMA CGM, even though before the group acquired Compagnie Jamaica.
his father Jacques remains chairman Générale Maritime, which was being
and chief executive of the group he privatised, to form CMA CGM. Then came delivery of the 17,722
founded. teu CMA CGM Kerguelen, followed by
He was promoted to the board an order for a trio of 20,600 teu vessels,
Formally elevated to group in 2010, and was quickly thrown into to be built by Hanjin Heavy Industries’
vice-chairman last year, with official the deep end as CMA CGM fought to Subic Bay facility in the Philippines for
confirmation that he would take over the restructure its debts and find some 2017 delivery.
top job from his father “when the time outside investment.
was right”, Rodolphe had a somewhat Rodolphe Saadé is being closely
challenging start. Now, though, CMA CGM is in far watched by the rest of the industry as
better shape, with some of the best he moves out of the shadows of his
For within weeks of that promotion, results in the industry. The group father and makes his own mark on the
he heard that China had banned reported a net profit surge of 43% for container shipping world.
the P3 alliance between Maersk 2014 and cargo volume growth of 8.1%
Line, Mediterranean Shipping Co to a record 12.2m teu. Those who know both him and
and CMA CGM, the world’s big three the company well expect his style to
containership operators. This is a busy time for CMA CGM, be more collegiate, having worked
which is buying German shortsea alongside other senior managers for the
Soon afterwards, Maersk and MSC operator Oldenburg-Portugiesische past 20 years as he learned his trade.
announced they would be pairing up, Dampfschiffs-Rhederei from the
leaving CMA CGM out in the cold. Bernhard Schulte Group, while “He’s very hands-on,” says one
looking for other acquisition industry grandee, who thinks the
As one of the architects of P3, it was opportunities. younger Saadé is doing well.
left to Rodolphe to pick up the pieces —
and he wasted no time in doing so. CMA CGM is also building up its CMA CGM is certainly riding high
ports portfolio. Having raised cash at the moment, but the true test will
He turned to China Shipping in 2013 through the $530m sale of come when the next inevitable slump
Container Lines and United Arab a 49% equity in its Terminal Link hits the industry.
Shipping Co, two of the remaining subsidiary to China Merchants, the
unaligned global carriers, to form Ocean French company is expanding again, That is when Rodolphe Saadé will
Three, a more loose-knit collaboration recently signing a 30-year concession have to prove whether can manage
than P3 and one that appears better through the bad times as well as the
suited to free-thinking CMA CGM. good, just as his father has done.
All three of Jacques Saadé’s
children work for CMA CGM, but it is
Rodolphe who has been groomed for the
top job.
Born in Lebanon in 1970, he
studied at Concordia University in
Montreal, before joining Compagnie
34 | Lloyd’s List Next Generation 2015 | www.lloydslist.com
