Ocean carriers pile on capacity and dominate intra-Europe shortsea market
The major container lines continue to dominate regional carriers and commercial feeder operators in the ...
– Acceleration of the Group’s transformation designed to offer a complete set of shipping and logistics solutions to its customers.
– Continued investments in the Group’s industrial assets: addition of 14 new owned vessels and 32 second-hand vessels to the fleet in 2021, with priority given to decarbonation.
– Sharp increase in revenue and EBITDA margin, still driven by the steady demand for consumer goods.
– Further strengthening of the Group’s financial structure through net debt reduction.
(PLEASE note that the “interim condensed consolidated financial statements”, which were filed separately, can be found here)
The Board of Directors of the CMA CGM Group, a world leader in shipping and logistics, met today under the chairmanship of Rodolphe Saadé, Chairman and Chief Executive Officer, to review the financial statements for the second quarter of 2021.
Commenting on the results just released for second quarter 2021, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said:
“The strong rebound of global economy has resulted in unprecedented demand for transportation and logistics services. In this context, the Group achieved excellent results this quarter thanks to the mobilization of its teams. Container shipping performance was driven by higher volumes and freight rates. Our logistics subsidiary CEVA has continued to improve its operational and financial performance and posted a sharp revenue increase.
While pressure on global supply chains are likely to persist, the Group’s strong performance enables us to accelerate our logistics transformation and our investments in industrial assets. We are pursuing the effort initiated over the third quarter of 2020 to increase our capacity and meet our customers’ needs. We also continue to accelerate our CSR agenda, to respond to the major challenges of the modern world and to successfully enable the energy transition ”
Acceleration of the Group’s transformation
In light of the growth in international trade, the Group is accelerating its strategic transformation and its investments in order to offer global, agile and innovative solutions to its customers.
Continued investments in industrial assets to enhance services offered to customers
The Group continues to improve the quality of its services and offers alternatives to its customers in a context of ongoing tensions on global supply chains. It is therefore pursuing its investments in order to strengthen its transportation offering.
Since the beginning of the year, the CMA CGM Group has taken delivery of:
– 8 new owned vessels, including the last five of its fleet of nine 23,000 TEU (twenty-foot equivalent units) vessels powered by liquefied natural gas (LNG). The Group is deploying all of its nine 23,000 TEU vessels between Asia and Northern Europe;
– 1 new chartered 15,000 TEU vessel;
– 15 second-hand vessels
In addition, the Group has added more than 520,000 containers to its fleet in one year, an increase of 13%.
Accelerated growth of CMA CGM AIR CARGO
During the quarter, CMA CGM AIR CARGO, the Group’s air freight division, expanded its network of destinations served from Europe with its four Airbus A330-200F aircraft: Chicago, New York, Atlanta, Dubai and Istanbul.
In order to support the development of CMA CGM AIR CARGO and the opening of new destinations, the Group is planning for the arrival of an additional aircraft by the end of the year and new equipment in 2022.
Expansion of CEVA Logistics in Latin America
Already present in ten Latin American countries where it employs nearly 10,000 staff members, CEVA Logistics is boosting its development in the region with the acquisition of Cargex. This acquisition enhances CEVA Logistics’ offer in the perishable commodities market in Latin America…
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