Cargo Business Newswire

Tuesday, September 2, 2014

CMA CGM reports 8 percent cargo volume surge in Q2

Container shipping giant CMA CGM announced 8 percent year-over-year increase in cargo volume in the second quarter, an 8 percent increase to 2.1 million TEUs.

The company’s board of directors attributed the record high volumes to performance of its Asia-Europe and Africa services, as well as the Asia-Pacific lines of subsidiary ANL.

CMA CGM saw its average revenue per-TEU went down 3.9 percent, as its customers realized reduced costs per-TEU of 4.8 percent. That includes fuel costs per-TEU decreasing by 9.3 percent, the company said, thanks to the combined effect of lower bunker consumption per unit and more moderate bunker prices.

Core EBIT was $204 million versus $172 million in the Q2 2013, representing an 18.4 percent increase.

Consolidated net profit came to $94 million, versus $268 million in the second quarter of 2013. Last year’s figure included $248.0 million in proceeds from the sale of the 49 percent stake in port terminal operations subsidiary Terminal Link.

The group said it would continue to expand its port terminal operations. It said it has made deals with Indian company Adani to start a terminal in Mundra and has begun bilateral negotiations to help develop a terminal in Kingston, Jamaica.

CMA CGM expects its third-quarter operating performance to be sustained.

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