CMA CGM has presented their net profit performances for the last year which equals to almost $2 billion. Over the same period in 2020 the figures were more than $200 million lower. The company is very optimistic in the context of the current year.
The French company managed to gain $1billion within the period of October-December 2020 due to a rapid increase of freight rates, stipulated mainly by demand among consumers.
The executives of the company expect their volumes to be at a high level, perhaps in the first half of 2021. They are improving their logistics services and expanding a number of their vessels (up to 13 container vessels with LNG power).
Although a volume of shipments was relatively low, the company managed to gain more than $30billion due to liner services, whereas their earnings before taxes increased up to more than $60billion, totaling at almost $2billion in net profit.
Such a drop in the volume of CMA at the beginning of 2020 was caused by the pandemic. However, their performances were at the average level in comparison with two other shipping companies: Hapag-Lloyd and Maersk.
The earnings ratio of CMA was almost at the same level as that of Hapag-Lloyd and Maersk, that is a little bit over 20%.
Due to an increased demand of customers in the second half of 2020, CMA had to multiply a number of containers and ships along their trade routes.
Services that CMA rendered on the route between Asia and Europe allowed the company to enlarge its capacity by almost 20% due to changeover to bigger vessels. Moreover, they increased a number of their containerships by almost 10% over the previous year.
CMA holds the fourth place globally among other carriers, having more than 550 vessels with about 3 million TEUs capacity.
By the end of 2022, CMA will become the owner of more than 30 container vessels powered by LNG supply which is nowadays considered the best option for CO2 reduction in the containers’ transportation. Logistics sector of CMA managed to improve its performances over the last year, particularly due to air transportation services.
The company is planning to implement new approaches and find some other ports of call, which will greatly promote their logistics sector.