Despite a volume growth of 6.3% French CMA CGM, the world’s third[ds_preview]-largest container shipping company, has seen full-year net profit slip by 3% from 584mill. to 567mill. $. Revenue dropped to 15.7 bill. $ down 6.4% from 2014 (16.7 bill. $) amid tough operating conditions and plunging rates. The carrier reported a 6.3% increase in transported volumes (13mill. TEU) with a fleet capacity of 1.893mill TEU (471 vessels) up from 1.649 mill. TEU (445 vessels) in 2014. »In a challenging market environment, we continued to roll out our strategy while adjusting our cost and financing structure to best effect«, said Rodolphe Saadé, Group’s Vice Chairman.
In 2016, CMA CGM said it will continue with its project to acquire Singapore-based NOL, the world’s 12th-largest shipping company. The acquisition for 2.4 bill. $ aims to reinforce the Group’s position in worldwide shipping while also boosting its competitive edge with substantial economies of scale. Saadé said the acquisition, which is pending clearance from the various competent authorities, is progressing in line.
