French liner group sees growth in Q1 2015

Consolidated revenue for the French CMA CGM group was up 1.8% to US$4.013 billion for the first quarter of 2015, chairman and CEO, Jacques R Saadé, announced on Monday.

He noted in a statement that volumes had risen 10.5% in the period to 3.1 million TEUs. “This is largely a result of the increase in volumes on the East-West lines – particularly to and from the United States (US) – where volumes enjoyed sustained growth, and also from the launch of the Ocean Three Alliance,” said Saadé.

He added that the group had reaped the rewards of its “operating efficiency and cost discipline” as well as the sharp drop in bunker prices.

“The CMA CGM fleet will be further strengthened in 2016/2017 following confirmation of the acquisition of three 20 600-TEU vessels to be delivered in 2017,” commented Saadé.