CMA CGM reported considerable increase in turnover for 2008

After a successful year 2008 CMA CGM Group (Marseilles) plans to implement a strict cost management as a response to the global financial and economic crisis. In 2009 operative costs are planned to be reduced by USD 600 million, as the Management of the French shipping company announced this week. 

As a response to the declining demand services will be rationalised and partnerships reinforced. The target is to maintain the quality level and reduce costs at the same time. As three quarters of the fleet, which comprises 398 vessels, are chartered, the group has sufficient leeway to respond to the latest market situation. More than 180 vessels will be returned and replaced by less expensive charter contracts, respectively. The other units will be operated at economical speed. In addition, contracts with terminals and shipyards are currently being renegotiated. 

In 2008 CMA CGM Group had 16,734 employees who worked in more than 650 locations in 150 countries, attending to 30,000 international customers. The annual turnover amounted to USD 15.1 billion (+28.2% compared to 2007). The profit amounting to USD 124 million will be used to reinforce equity, like in the previous year. Freight volumes rose 15.6 per cent to 8.9 million TEU in 2008.

Quelle: Österreichische Verkehrszeitung