Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Bunker savings and volume growth boost CMA CGM in Q1

Bunker savings and volume growth boost CMA CGM in Q1
A volume increase of 10.5% and a 36.5% drop in per-teu bunker costs helped CMA CGM to a $406m profit in the first quarter.

Core earnings before interest and tax (EBIT) of $406m represents 10.1% of the $4bn total revenue, a healthy margin for the container sector. First quarter profits in 2014 were significantly lower at $97m.

Fleet capacity growth did outpace volume increases, as the fleet grew by 13.4% in the year to 1.7m teu and volumes were up 10.5% to 3.1m teu.

The company noted that volume growth was particularly strong on the routes to and from the US on East-West trades, and that overall growth was boosted by the Ocean Three Alliance's launch.

The line's orderbook currently contains five 17,700 teu vessels, six 9,400 teu ships and a trio of 2,100 teu vessels for delivery this year, as well as three 20,600 teu ships due for delivery from 2016.