CMA CGM reports record-high volumes

The Board of Directors of CMA CGM Group, the world's third largest container shipping company, met under the chairmanship of Jacques R. Saade, Chairman and Chief Executive Officer, to review the financial statements for the third quarter of 2014.

During the third quarter of 2014, as the market experienced the customary peak-season: Consolidated revenue amounted to USD 4.4 billion: a 6.4% increase compared with the 3rd quarter of 2013.
-Volumes carried increased by 8.3 % to 3.2 million of Twenty-foot Equivalent Units ('TEUs').
-Average revenue TEU decreased by 1.8% over the period.
Carried volumes have reached their highest level over the Group's history thanks to the lines deployed in high-growth areas and to the strength of the services offered on the main markets.

CMA CGM has also continued its operational cost control policy. Operating costs per TEU have declined slightly (-0.4%). Bunker consumption per TEU has fallen by 3.4 % versus third quarter of 2013. This decrease mainly results from higher vessel filling factors and continued energy efficiency efforts. The net income (Group share) amounted to USD 201 million in the 3rd quarter of 2014, compared with a net income of USD 70 million in the 3rd quarter of 2013.

In this respect, CMA CGM initiated an optimisation programme for its owned fleet in 2013, including the modification of bulbous bows. This change, implemented in dry dock, optimises the vessel design to the speeds operated under 'slow-steaming' Modifications have already been made to fifteen vessels and ten additional ones are planned. This innovation results in fuel and CO2 emission savings in excess of 5% per voyage.

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