CMA CGM, the fourth-biggest container shipping line in the world by market share, enjoyed growth in volume, revenue and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the second quarter of 2019 despite global uncertainty.
In a statement, the carrier said its volumes grew by an above-market average of 6.3% on the second quarter of 2018, which it credited to short-sea lines.
Expanding on that, it said it relies on a collection of intra-regional shortsea carriers that are experts in their individual fields.
These include CNC, specialists in the Intra-Asia region, Mercosul, a leader in cabotage and door-to-door to services in Brazil, and ANL, an expert for Australia and Oceania, and Containerships, specialists in intra-Europe.
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Furthermore, it said its growth was driven by a good performance in the US, a market it describes as “particularly dynamic” despite the trade war with China.
It saw its volumes increase by 4.6% to approximately US$6 billion for the period. As well as the strong growth in the US and the positive postings of the intra-regional subsidiaries, CMA CGM also credited its cost reduction plan.
The carrier said this allowed it to reduce operational expenses by $51 per TEU in the second quarter compared to the first quarter 2019.
Following the generally positive news, CMA CGM says it continues to focus its efforts on operational efficiency, cost control and the rationalization of its industrial activities and brands.