CMA CGM posts profit of US$611m for 2006
French shipping group CMA CGM has outshone some of the world's top shipping lines by posting a profit of US$611 million for 2006, a year when the industry was plagued by lower freight rates and higher fuel costs.
The group increased its share of worldwide shipping capacity to seven per cent through acquisitions and took delivery of 28 newbuilds, including 11 owned, last year.
This raised CMA CGM's market share of global shipping capacity from 5.6 per cent in 2005. The company's fleet now comprises 286 vessels with an aggregate slot capacity of 700,000 TEU, representing an increase of 56 per cent year on year. A further 65 new vessels will be delivered to the company between now and 2010.
CMA CGM and its subsidiaries, Delmas, OT Africa Lines, ANL Container Line and the UK's MacAndrews, transported 5,976,000 TEU in 2006, 28 per cent more boxes than a year earlier.
Revenue for 2006 rose by 33 per cent over the previous year to $8.4 billion, with the consolidation of African carrier Delmas acquired in January 2006, which accounted for 19 per cent of the increase.
This compares to AP Moller-Maersk posting a loss from container activities of $600 million following the completed integration of P&O Nedlloyd in the first half of 2006.
The group increased its share of worldwide shipping capacity to seven per cent through acquisitions and took delivery of 28 newbuilds, including 11 owned, last year.
This raised CMA CGM's market share of global shipping capacity from 5.6 per cent in 2005. The company's fleet now comprises 286 vessels with an aggregate slot capacity of 700,000 TEU, representing an increase of 56 per cent year on year. A further 65 new vessels will be delivered to the company between now and 2010.
CMA CGM and its subsidiaries, Delmas, OT Africa Lines, ANL Container Line and the UK's MacAndrews, transported 5,976,000 TEU in 2006, 28 per cent more boxes than a year earlier.
Revenue for 2006 rose by 33 per cent over the previous year to $8.4 billion, with the consolidation of African carrier Delmas acquired in January 2006, which accounted for 19 per cent of the increase.
This compares to AP Moller-Maersk posting a loss from container activities of $600 million following the completed integration of P&O Nedlloyd in the first half of 2006.
