Compagnie Générale Transatlantique
The Transat flag
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| Industry | Shipping |
|---|---|
| Founded | 1861 |
| Founder | Péreire brothers |
| Headquarters | Paris, France |
The Compagnie Générale Transatlantique (shortened to "CIE. GLE. TRANSATLANTIQUE", or CGT, and commonly named "Transat"), typically known overseas as the French Line, was a shipping company established in 1861 as an attempt to revive the French merchant marine, the poor state of which was self-evident during the Crimean War of 1856. The company's first vessel, the SS Washington, had its maiden voyage on 15 June 1864. Other than operating ocean liners, the company also had a significant fleet of freighters. The company survived both World Wars, but the development of jet travel doomed its mainstay passenger liner business. In 1977, the company merged with the Compagnie des Messageries Maritimes to form the Compagnie Générale Maritime. Then, in 1996, the company Compagnie Générale Maritime merged to form the CMA CGM.
In 1855, the Péreire brothers, Emile and Isaac, created the Compagnie Générale Maritime, which later became the Compagnie Générale Transatlantique. They were already the owners of the Société Générale de Crédit Mobilier, which became the main shareholder. Five years later they signed an agreement with the French government. The company contracted to create a fleet and to provide liner service and carry mail for 20 years on the following routes: Le Havre - New York with calls at Brest, Saint-Nazaire, and the Isthmus of Panama, with 3 additional services for Guadeloupe, Cayenne, and Mexico and. In return, the government would provide the company with an annual subsidy.
In 1861 Compagnie Générale Maritime changed its name to the Compagnie Générale Transatlantique. The Pereire brothers also established a shipyard at Penhoët, near Saint-Nazaire. The next year the first trip to the West Indies and Mexico was made by the ship Louisiane. Two years later the New York - Le Havre line service was begun, with the paddle-steamer Washington providing postal service. In 1867 the company switched from using paddle wheels to using propellers for its vessels, partly because they were more fuel efficient.
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