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CMA CGM returns to the black in Q1

CMA CGM returned to the black in the first quarter as revenue rose on the back of higher shipping volumes.

Lee Hong Liang, Asia Correspondent

June 3, 2013

1 Min Read
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The French container carrier recorded a first quarter net profit of $102m as against a net loss of $240m in the same period of last year.

Revenue during the quarter increased 6% year-on-year to $3.8bn, driven by a 3% rise in volumes moved which totalled 2.7m teu.

CMA CGM also reported that its net debt shrank by a considerable $1.1bn to stand at $4.2bn as at 31 March 2013.

Looking ahead, CMA CGM is hoping to produce better than average results, betting on its diversity of geographic exposure and its ability to manage its cost structure.

“Since the Chinese New Year, freight rates have declined considerably, especially in the Asia/Europe market,” the company said.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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