French line bucks global trend

FRENCH LINE CMA CGM has posted positive results despite adverse international conditions during 2001.
"The Group's activity increased strongly in 2001, compared with the year 2000, with volumes transported up by 17% and total revenue 11% higher," says Roderick Eaton, marketing manager of ISS-Voigt, the Southern African line agents.
The consolidated results fell due to the decline in freight rates, while the slowdown in the growth of international exchanges made it impossible to absorb the additional capacity introduced by shipping lines, notably on the East - West axis, according to line executives.
"For 2002, the increase in the volumes transported in recent weeks appears to signal a reversal of the trend, which nevertheless remains to be confirmed," said Eaton.
In 2001, the group's main achievements included opening new services and new agency subsidiaries to extend its world-wide coverage, the modernisation of its fleet of vessels and containers, and the development of intermodal activities including rail and barge transportation.
"In 2002, the group plans to strengthen its position as a global carrier by using internal synergies and looking
at all development opportunities," Eaton said.