One of the world’s largest container shipping lines, CMA CGM has recently released its Q1, 2015 financial results, where its volumes rose by around 10.5% in the period to 3.1 million TEU.
In a previous article by PTI, it was reported that CMA CGM’s total revenue rose by around 5.3% year-on-year to US$16.7 billion in 2014, which the group’s Chairman Rodolphe SAADE claimed was due to operational excellence, disciplined financial management and innovation.
Its rise in TEU throughput took place as a result of the increase in volumes on the East-West lines, particularly to and from the US, where volumes saw sustained growth, and also from the launch of the Ocean Three ‘O3’ Alliance.
Its core earnings before interest and tax margin leapt to US$406 million, representing 10.1% of revenue, which it claims is significantly above the peer-average.
CMA CGM’s adjusted net debt fell by 10.3%, chiefly due to the favourable impact of the $/€ exchange rate and to the increase in the group's cash available.
CMA CGM recently took delivery of the CMA CGM Kerguelen, its first 17,722 TEU vessel – watch a video of what it’s like to be on board this massive ship – and is designed to be used on Asia-Europe lines.
Another five similar-sized vessels will also be delivered this year, along with six ships with a capacity of 9,400 TEU and three vessels with a capacity of 2,100 TEU.
The CMA CGM fleet will be further strengthened in 2016 and 2017 following confirmation of its acquisition of three 20,600-TEU vessels to be delivered in 2017.
The container shipping giant has announced that it has signed an agreement to operate and develop a logistics platform in Cuba.
It has also acquired the concession for the Kingston Container Terminal in Panama in preparation for the expanded Panama Canal’s completion date.
(Source: CMA CGM)