China Gets Record $3.2 Billion Container Ship Order From French Giant

French shipping giant CMA CGM signed a record 21 billion yuan ($3.2 billion) deal for China’s state-owned shipbuilder China State Shipbuilding Corp. (CSSC) to deliver 16 large container ships.

The accord, inked during French President Emmanuel Macron’s state visit to China, marks the largest-ever single order for China’s shipbuilding industry.

The order includes 12 container ships each with capacity for 15,000 twenty-foot equivalent units (TEUs) and four 23,000-TEU LNG dual-fuel ultra-large container carriers. The vessels will be built by CSSC’s shipyards in Shanghai and Dalian.