QUARTERLY FIGURES

CMA CGM spent $822 million more on bunker fuel for the propulsion of its ships in the third quarter than in the same period last year. That is one of the striking findings from the latest quarterly figures of the French transport company.

The quarter was made even more difficult by the decline in container transport rates. Compared to the second quarter, turnover from the container shipping activities fell by 2% as a result.

Despite all this setback, the French company still delivered a “robust financial performance” in the third quarter, with an EBITDA (gross profit) of $9.1 billion, 28.8% higher than the $7.1 billion of the same period last year. year. However, compared to the $9.6 billion from the second quarter, there was a decline.

Downturn

CMA CGM expects this downturn to continue in the coming period, with a further “sharp drop in freight rates”, “trade flows normalizing” and “uncertain economic conditions”. According to the company, the fact that congestion problems in ports are also decreasing due to declining volumes is a blessing in disguise.

The French transport company says it is preparing for the future with “significant investments”, including to accelerate the “energy transition”.