CMA CGM forecasts swift coronavirus recovery

Oakland, California, USA - August 30, 2019 : Tugboats assist French container ship CMA CGM at the Port of Oakland under blue sky. A tugboat maneuvers vessel by pushing, pulling or towing containership

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.

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.

Supplier Directory

Be listed with industry leaders operating within Ports and Terminals

Webinar Series

Join 500+ attendees on average with a Port Technology International webinar

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.