CMA CGM has completed its $1.4bn acquisition of FedEx Supply Chain, and the two groups have signed multi-year commercial agreements covering air and ocean freight aimed at broader global collaboration.

First announced in July, the deal closed with an enterprise value of $1.4bn and immediately reshapes CEVA Logistics' position in North America. The CMA CGM subsidiary has tripled its North American logistics footprint, absorbing roughly 34m sq ft of warehouse space and nearly 10,000 FedEx Supply Chain employees.

The combined contract logistics business now operates approximately 150 warehouses, expanding CEVA's North American presence to more than 240 locations with a workforce of around 20,000 people. That makes CEVA one of the continent's biggest contract logistics providers.

What does the air cargo agreement cover?

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

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

The fleet asymmetry explains the logic. As of 31 May 2025, FedEx's global fleet totalled 698 freighters, while CMA CGM Air Cargo operates just five Boeing 777Fs and one Airbus A330-200F, according to Planespotters. For CMA CGM, access to capacity on Asia-Europe — the world's most contested long-haul air freight lane — addresses a structural constraint on its air division's growth. For FedEx, better aircraft utilisation across its network offers revenue upside on capacity that might otherwise fly underused.

On the ocean side, CMA CGM becomes a preferred carrier for FedEx, providing transport and carrier services under a non-exclusive agreement. That gives the Marseille-based line a substantial committed base volume from one of the world's largest logistics buyers, without locking FedEx into a single procurement channel.

Why the warehouse footprint matters

Beyond the physical expansion, the integration advances CMA CGM's strategy of offering end-to-end logistics spanning ocean shipping, terminals, inland transport, warehousing and value-added logistics.

The deal also combines digital and operational capabilities, which the group says will accelerate deployment of automation and robotics across the North American network. CEVA gains deeper sector expertise in healthcare, technology, consumer and retail, strengthening its ability to run complex supply chains across the United States and Canada.

For shippers, the practical consequence is a European carrier group with a far larger US and Canadian warehousing and fulfilment base — a stronger alternative to the incumbent North American contract logistics players, particularly for healthcare and technology accounts requiring dedicated capacity.

Rodolphe Saadé, chairman and chief executive of the CMA CGM Group, said: "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. It 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."

The transaction consolidates a year in which CMA CGM has pushed further into integrated logistics, using ocean cash flows to build air and contract logistics arms. With the air capacity agreement on Asia-Europe still to be operationalised, the next signal for the market will be how much freighter capacity the two partners commit to the lane — and at what rate impact.