CMA CGM announced 2013 third quarter financial results

The Board of Directors of CMA CGM Group, the world? third largest container shipping group, met under the chairmanship of Jacques R. Saade, Chairman and Chief Executive Officer, to review the financial statements for the third quarter 2013.

During the period, consolidated revenue amounted to $4.1 billion, up 1.4% over the second quarter and down 2.1% year-on-year.

Volumes carried rose by 11.0% year-on-year to 3.0 million TEU, a new historical record for the group.
The average revenue per TEU declined by 11.8% year on year, when Asia-Northern Europe market rates, as measured by the SCFI, contracted by more than 45% over the quarter.

This performance in terms of volumes and price resistance illustrates CMA CGM resilience in a market that remains extremely volatile.

The group is evidencing the benefits derived from its size and global presence, which are enabling it to diversify its activities by geography, customer category and service solution, particularly in its onshore operations. < Korea Shipping Gazette >