CMA CGM with sustained expansion and solid performance in 2013

Container shipping line CMA CGM is continuing to deploy a strategy combining financial discipline and assertive marketing

Consolidated revenue of the container shipping line CMA CGM remained stable, easing back 0.1% to USD 15.9 billion in the year 2013. Consolidated net profit rose by 22.8% over the year to USD 408 million, partly as a result of the sale of 49% of Terminal Link, our terminal activities subsidiary in June.

The volumes carried by CMA CGM rose by 7.5% to 11.4 million TEUs, in a market where volumes increased by around 3% over the year. As a result, the decrease in average revenue per TEU was held to 7.1%, which was less than the decline in the corresponding Shanghai Containerized Freight Indices (SCFI).

“In 2013, in a difficult market, we successfully reduced our costs while increasing our volumes carried much faster than the market, enabling us to report one of the industry’s best financial performances. In this way, year after year, we are reinforcing our position as the world’s third largest container shipping company. With these solid fundamentals and the pioneering spirit that has always been our strength, we are committed in 2014 to maintaining our profitability and driving faster growth”, comments Rodolphe Saadé, CMA CGM Group Executive Officer.

Container shipping overall volumes are expected to increase by 4 to 5% in 2014, the company announces. Despite an initial upturn in freight rates at the beginning of the year, the Group believes that rates will remain under pressure throughout the year given the persistent mismatch between supply and demand. In response, CMA CGM is continuing to deploy a strategy combining financial discipline and assertive marketing, which should enable it once again to deliver a significantly better operating performance than its peers.

CMA CGM is especially focusing on fast growing regions with the launch of new services and the development of port infrastructure. This is notably the case in Africa with the strengthening of its lines, the development of overland corridors and the opening of new agencies and logistical terminals. The shipping line is also benefiting from the growth in its energy-efficient reefer container fleet, which should account for 50% of the total reefer fleet by year-end, or around 48,000 units. Reefers make it possible to containerize certain product categories that previously had to be carried bulk.

More generally, the Group is continuing to align its services to customer needs, with purpose-designed solutions combining sea and overland shipping with logistical services. In addition, deployment of the P3 operational alliance, announced by CMA CGM in June 2013, was cleared by the US Federal Maritime Commission last 20 March, will support the operating efficiency of its members by increasing fleet utilisation.

Quelle: LogEastics

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