CMA CGM has reported a significant growth in 2021 first-quarter revenue, which reached US$10.7 billion, representing a 49.2% increase from the same period last year, when the Covid-19 crisis and lockdown measures had heavily impacted the world trade.
At the same time, the French shipping group has announced Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of US$3.2 billion, which translates to an EBITDA margin of 29.7%, while its net income was US$2.1 billion.
CMA CGM has also seen increased volumes in 2021 Q1, carrying 5.5 million TEU, a 10.7% growth compared with 2020 first quarter, while shipping revenue stood at US$8.6 billion, representing an important increase of 57.4%, mainly driven by strong growth in unit revenue per TEU.
Meanwhile, CMA CGM is very active in the newbuilding sector, marking the following 22 new vessel orders in April 2021 with scheduled delivery between 2023 and 2024. "We have expanded our fleet, most notably with the addition of new LNG-powered 23,000 TEU vessels," commented Rodolphe Saadé, Chairman and CEO of the CMA CGM Group.
- six 13,000TEU vessels powered by liquefied natural gas (LNG)
- six 15,000TEU vessels powered by LNG
- ten 5,000TEU vessels powered by very low sulfur fuel oil (VLSFO)
The Marseille-based company has also confirmed it would be deploying six new LNG-powered 15,000TEU vessels between China and the US West Coast by the end of 2022 with the first vessel joining the Group’s fleet in October 2021.
"The choice of liquefied natural gas, the best available solution for preserving air quality," pointed out CMA CGM, which by the end of 2024, will operate a fleet of 44 LNG-powered vessels.
Furthermore, CMA CGM noted it has adapted its services and operations to face congestion in a number of ports and strong pressure on global supply chains during the first quarter of the year, increasing its shipping capacity, boosting its container fleet, reorganising its services and optimising its sollutions.
Moreover, CMA CGM has launched a dedicated airfreight division called CMA CGM AIR CARGO, in order to "offer its customers a comprehensive range of transport solutions."
The sustained demand for the shipping of consumer goods seen since the summer of 2020 is expected to continue in the second half of 2021, according to CMA CGM Group, which said it "will continue to invest in strengthening and upgrading its shipping and logistics assets while bolstering its financial structure."
CMA CGM believes that it can achieve at least the same results in the second quarter of the year, as it did in 2021 Q1.