CMA profit surges
France’s CMA CGM boosted operating profit by 98% in 2000 as revenue surged 39% and traffic grew 20%.
Operating profit reached 795 million francs ($110.4 million) and net income was 125% higher at 702 million francs ($97.5 million) on revenues of 13.2 billion francs ($1.83 billion). Container traffic totaled 1.62 million TEUs last year and is forecast to reach 1.95 million TEUs in 2001, generating revenues of $2 billion.
And, with the launch of several new services between Asia and North and South America in June, the company plans to maintain its rapid growth rate. The services will link the United States and South America and Asia as part of an alliance with Chile’s CSAV. Another service, linking the U.S. West Coast with Japan and Northern China, will be a partnership with China Shipping Group.
CMA CGM will take delivery of eight 6,600-TEU ships for its east-west services by the end of the year, which will improve its cost base as freight rates retreat, it said.
