CMA CGM, the fourth biggest container shipping line in the world, has reported an upturn in business in China following the coronavirus outbreak.
The carrier made the observation in its 2019 financial results, where it posted a revenue increase of 19.4% thanks to integrating CEVA Logistics.
In reference to the outbreak, CMA CGM said it was “fully mobilised and sufficiently agile to manage this exceptional situation”.
As part of its strategy, CMA CGM said it made an increased effort to reduce its operated capacities in China.
Through close monitoring of production at Chinese manufacturing plants, the carrier said it had noticed signs of slow improvement since the end of February.
In the next 12 months, it expects “a major catch-up effect” once the health situation stabilises and Western countries rebuild inventories. CMA CGM therefore expects to operate a normal capacity fleet by mid-March.
During 2019, CMA CGM’s TEU volumes grew by 4.1% as the shipping segment of its operations was the main revenue driver.