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.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card required.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.Start a free company trial today
Your trial for ShippingWatch has now started
With your free trial you get:
Full access to all locked articles on ShippingWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.