CMA CGM has completed its $1.4bn acquisition of FedEx Supply Chain, closing a deal first announced in July and pairing the asset transfer with multi-year commercial agreements covering air and ocean freight.

The air element is the most consequential for cargo capacity. The two companies plan to "collaborate on an air cargo capacity agreement on key strategic routes, including Asia-Europe", CMA CGM said.

"This will strengthen their respective global networks, improving aircraft utilization and providing greater flexibility on long-haul routes," the group added.

The agreement pairs two fleets of very different scale. As of 31 May 2025, FedEx's global freighter fleet totalled 698 aircraft. CMA CGM Air Cargo operates five Boeing 777Fs and one Airbus A330-200F, according to Planespotters. For the French group, access to FedEx capacity on Asia-Europe could ease the constraint of a six-aircraft fleet; for FedEx, the partnership offers a way to fill long-haul bellies and improve utilization.

What does the deal change on the ground?

The acquisition transfers FedEx Supply Chain's assets and nearly 10,000 employees to CEVA Logistics, CMA CGM's logistics subsidiary. CEVA is now one of North America's biggest contract logistics providers.

The numbers behind that claim:

• The deal triples CEVA's North American logistics footprint
• It adds approximately 34m sq ft of warehouse space
• The combined business operates roughly 150 warehouses
• CEVA's North American presence now spans more than 240 locations with a workforce of approximately 20,000

What is promised versus what is delivered?

The air cargo capacity agreement remains a stated intent rather than a detailed contract. CMA CGM has disclosed no specific routes beyond Asia-Europe, no volume commitments and no start date. The ocean side is more defined: CMA CGM becomes a preferred ocean carrier for FedEx under a non-exclusive agreement, providing transport and carrier services.

The group frames the transaction as advancing its strategy of end-to-end logistics spanning ocean shipping, terminals, inland transport, warehousing and value-added logistics. Beyond the physical footprint, CMA CGM says the deal combines complementary digital and operational capabilities, accelerating deployment of automation and robotics across the North American network.

CEVA also gains sector depth in healthcare, technology, consumer and retail, which the group says enhances its ability to manage complex supply chains across the United States and Canada.

What does the CEO say?

Rodolphe Saadé, chairman and chief executive of the CMA CGM Group, stated: "The completion of this acquisition marks an important step in the development of CMA CGM and CEVA Logistics in North America."

"By significantly expanding our contract logistics capabilities, we are strengthening our ability to offer customers integrated, end-to-end supply chain solutions across ocean, air, land and logistics," Saadé said.

He added that the deal "also reinforces CMA CGM's long-term commitment to investing in the United States, a strategic growth market for the Group, and supporting the resilience and efficiency of its supply chain."

What comes next?

The open question is how the air capacity agreement takes shape. With a 698-freighter fleet on one side and six aircraft on the other, the commercial terms on Asia-Europe capacity will determine whether CMA CGM Air Cargo gains meaningful long-haul lift or a marginal block-space arrangement.