CMA CGM this afternoon christened the largest containership under the Maltese flag.
The 11,400 TEU Pegasus is 363 metres long and has a beam of 45.6 metres. It is equipped with the latest environmental technologies, such as electronic injection engine, which significantly reduces bunker fuel and oil consumption, an optimised hull design, improving the hydrodynamics of the vessel, and an innovative process for preventing marine pollution.
The vessel was christened by Mrs Catherine Gonzi in the presence of the Prime Minister, her husband, at the Malta Freeport.
It is the seventh CMA CGM vessel to be registered under the Maltese flag. It was christened at a time when the group confirmed the sharp recovery in its business since the beginning of the year. It is deployed on the French Asia line service on the Asia-Europe trade, one of the world’s largest container shipping markets.
The CMA CGM has been operating from the Freeport since October 2004 and has been granted an extension of its concession to 65 years in 2008.
This agreement opened up new prospects for the development of the group in the Mediterranean.
It marked the beginning of an ambitious programme of expansion and modernisation of the port’s infrastructure, aimed at further improving competitiveness.
The programme includes:
· An increase of the water depth of the terminal two north quay and south quay, terminal one north quay and the fairway from 15.5 to 17 metres;
· An increase of yard space by 133,000 square metres in four phases;
· The purchase of new state of the art equipment, including quayside cranes which are capable of handling twin 40’ containers;
· The upgrading of quayside crane rails on terminals one and two; and the
· Extension of the west quay of terminal one by 132 metres.
The main objective of this programme is to upgrade the efficiency of port operations, accommodate larger container vessels, and increase the capacity for container stacking while attaining fast vessel turnaround times.
The Freeport employs 743 people and will be able to handle up to 3.4 million TEU by 2017. It is able to accommodate the largest containerships in the world.
Dr Gonzi said that the christening was testimony that Malta was indeed a 21st century maritime state.
The Prime Minister said that the CMA CGM operation in Malta was set to further improve Malta Freeport’s competitiveness with an ambitious programme of expansion, investment and modernisation of the port’s infrastructure.
CMA CGM had already invested over €120 million in Malta and had plans for a further investment of €95 million.
“The Freeport has given and is continuing to give a new dimension to Malta’s relationship with the seas,” he said adding that the sea had been Malta’s lifeblood throughout history and has played a central role in Malta’s economic, social and cultural transformation.