Optimistic CMA CGM adds new services

Despite most of the world trade routes currently languishing in the doldrums, France’s main shipping line and the world’s number three container liner operator, CMA CGM, is revealing considerable confidence in it SA trades. “We are the fastest growing shipping line in South Africa in volume, and a key player in Africa,” Arnaud Thibault, SA MD and regional director of CMA CGM and Delmas, told FTW. Backing up this optimistic statement, Thibault announced a new service from the Middle East/India to Durban with the line’s Midas service. “The new features of this service,” he said, “are the extension of the coverage to Durban on a weekly basis.” The first voyage started on June 21 from Mundra. “It offers wide coverage in India including Nhava Sheva on the CMA CGM weekly dedicated feeder system,” said Thibault. Durban’s maiden call will be on July 9, and CMA CGM claims that its direct access from India and Middle East Gulf to Durban offers customers the most competitive transit time in the market. “SA customers will also benefit from a direct link to West African ports of Luanda, Pointe Noire, Apapa/ Tin Can and Douala – and then via our dedicated feeder to Matadi, Libreville, Lobito, Boma, Soyo and Namibe,” added Thibault. CMA CGM also provides land transport to and from Lusaka, Harare, Bulawayo, Gaborone, Maseru and the hinterland of SA with the Durban gateway. In West Africa, land transport is offered to and from Douala with Chad and Cameroun. Another recent (May 15) new weekly service offers direct calls at Maputo, and then eastbound on to Asia on the Asaf Line – opening the strategic Maputo Corridor for CMA CGM. “Scheduled to start at the beginning of the citrus season, it also offers a regular service for fruits and ores from the Limpopo and Mpumalanga areas in SA, and for scrap and all other cargoes from Mozambique and neighbouring landlocked countries.” Overall, the line has vastly improved its rather cash-strapped position of a year ago. It has sharply reduced net debt to US$4.2 billion at March 31 this year – which was US$1.1bn less than one year earlier and US$0.4bn less than at December 31, 2012. It has also significantly improved its equity to US$4.2bn – an increase of US$640 million compared with one year earlier and an increase of US$112million since last December 31. According to its first quarter’s financial statements, consolidated revenue rose by 6% in the period, to US$3.8bn from US$3.6bn in the first three months of 2012. INSERTS & CAPTIONS 6% The percentage by which consolidated revenue rose in the first quarter. Offering wide coverage in India including Nhava Sheva on the CMA CGM weekly dedicated feeder system. – Arnaud Thibault