CMA CGM Marks Record Volume Surge
France’s CMA CGM Group, the world’s third largest container shipping company, carried 3.2 million TEUs in the third quarter of 2014, an increase of 8.3% compared to 3Q 2013, and the highest level in the company’s history, which is contributed to the lines deployed in high-growth areas and to the strength of the services offered on the main markets.
Consolidated revenue amounted to USD 4.4 billion: a 6.4% increase compared with the 3rd quarter of 2013. Average revenue TEU decreased by 1.8% over the period. The net income amounted to USD 201 million in the 3rd quarter of 2014, compared with a net income of USD 70 million in the 3rd quarter of 2013, decreasing an adjusted net debt by 15.8%.
For the first nine months 2014, the company’s turnover amounted to USD 12.5 billion, a 4.3 % increase with respect to the same period in 2013. The carried volumes reached 9.1 million TEUs : a 7.4 % increase.
CMA CGM says that during the fourth quarter, the operating environment is likely to be characterised by the usual seasonal volumes slowdown, freight rates volatility and lower bunker prices.
The strategic operational agreement between CMA CGM, CSCL and UASC, announced in early September, will be launched in early 2015. The companies will pool 162 vessels on the following routes: Asia-Europe, Asia-Mediterranean, Transpacific and Asia-US East Coast. This agreement has been validated by the U.S. Federal Maritime Commission and is not subject to any other approval from regulatory and competition authorities.