Marked recovery in volumes transported in shipping and logistics activities.Increase in operating margin during the thirdquarter.Fleet entry of the flagship of a new generation of 26 liquefied natural gas-powered container vessels. Business activities and financial performance of the third quarter of 2020 The CMA CGM Group demonstrates strength and agility in an unprecedented global context The third quarter business activities saw a marked recovery in
demand for transportation of goods, following the scaling back triggered by the Covid-19 pandemic during the first half of the year. In response to this recovery, the CMA CGM Group stepped up the redeployment of operated capacities during the third quarter, once again demonstrating the agility of its business model and the commitment of its employees. This increase in volumes transported was due to: the pick-up in global economic activity following the easing of various lockdown measures;the strong momentum in terms of the consumption of goods to the detriment of services activities, encouraged in some locations by support packages;strong e-commerce growth with inventory rebuilding;the usual seasonal variation in business activity in preparation for both the September and Christmas peak consumption periods in western countries. Strong financial indicators for the Group During the thirdquarter of 2020, the CMA CGM Group showed great responsiveness to support recovery in the sector. The health crisis has confirmed the relevance of the Group’s strategy in terms of the complementarity between logistics solutions and maritime transport. Group revenue was up by more than 6% during the third quarter of 2020 compared with the third quarter of 2019, reaching a level of USD 8.1 billion. Volumes carried during the third quarter of 2020 continued to recover and were up 16.8% compared with the second quarter of 2020. Volumes were also up 1% compared with the third quarter of 2019. Revenue for the quarter increased by 6.3% compared with the third quarter of 2019, totaling USD 6.3 billion for shipping, thanks to average revenue per TEU (twenty-foot equivalent unit) of USD 1,120, up 5.2% year-on-year, in particular on Transpacific trade lanes. Source: CMA CGM
PortSEurope offers an English-language daily coverage from over 200 ports in the Mediterranean, Black and Caspian Seas as well as a fully indexed and easily searchable database with more than 15,000 articles.