CAIRO: On account of building the world's third largest container shipping company, Jacques Saadé, founder and chairman of the CMA CGM shipping group, was recently awarded an honorary degree by the Arab Academy for Science, Technology, and Maritime Transport. Saadé received the Honoris Causa Doctorate Degree and was awarded by Gamal Mokhtar, president of the academy, who described Saadé as "a hero who is committed to his Arab origin and has greatly contributed to the promotion of Arab sea-borne trade. The degree has only been awarded to two other people: the late Sheikh Zayed of the United Arab Emirates and Nobel Prize winner Ahmed Zewail. The Arab Academy - affiliated with the Arab League - is a specialized university engaged in education, training, and scientific research in all the disciplines related to maritime transport as well as engineering and management. It is a member of the Arab Association of Universities and the International Association of Universities. Following the distinction, Saadé inaugurated the new CMA CGM headquarters in Cairo, highlighting Egypt's pivotal role in the company's expansion and investment plans. With a fleet of 370 vessels, the French-based group serves over 400 ports of call. In 2006, it transported over six million units for total revenues of $8.42 billion. With a presence in 150 countries through its 600 agencies, the group has established itself as the world's third largest container shipping company and the number one in France.
