News / Focus on cutting costs pays dividends for CMA CGM as profits soar 43% in 2014

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CMA CGM, the world’s third biggest ocean carrier, showed its fourth-ranked rival Hapag-Lloyd that you can still make money in a volatile freight market by recording a $584m net profit in 2014, despite having an inferior average rate per teu than the German carrier.

Consolidated operating revenue for the French group increased by 5.3% in 2014, compared with the previous year, to $16.7bn on an 8.1% volume increase to 12.2m teu, which CMA CGM said was mainly attributable to east-west gains.

The ...