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Divestment brings CMA CGM profit of USD 408 million

French CMA CGM increased its profits to USD 408 million in 2013, a 22.8 percent improvement.

The world's 3rd largest container carrier and future partner in the P3 alliance - with Maersk Line and MSC - French CMA CGM improved its net profits by 22.8 percent in 2013, to a total USD 408 million. This significant improvement can be partially attributed to the carrier's divestment of a 49 percent stake in the group's terminal division, Terminal Link.

Consolidated revenue was more or less stable, with a slight decline of 0.1 percent, down to USD 15.9 billion. CMA CGM's cargo volumes increased by 7.5 percent, to 11.4 million teu in a market where the total freight volumes grew by approx. three percent. The carrier's average rates declined by 7.1 percent in 2013, or less than the decline reported by the benchmark Shanghai Containerized Freight Index (SCFI), says CMA CGM in its annual report on Monday.

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