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Volumes boost for CMA CGM

Volumes boost for CMA CGM
CMA CGM has reported a $94m profit in the second quarter, down from a $268m profit in the second quarter 2013, where the company recorded $248m of one-off gains from the sale of Terminal Link.

Volumes carried by the French container shipping company rose 8% to 3.1m teu, compensating for a 3.9% drop in revenue per teu in the second quarter.

Cost per teu were reduced by 4.8%, with a 9.8% drop in fuel cost per teu owing to a softened bunker price and increased efficiency.

CMA CGM's volume growth was mainly attributed to its Asia-Europe and Africa lines, as well as Asia Pacific lines under subsidiary ANL.

During the quarter CMA CGM signed a partnership agreement to develop a new terminal in Mundra, India with local company Adani. Negotiations have also begun for a terminal in Kingston, Jamaica, which could become the company's Caribbean transhipment hub.

The company's fleet size grew by one vessel to 430 ships, while the fleets capacity increased 3% to 1,589 teu.