France's CMA CGM, the world's third-largest container shipping company, has released a positive set of financial results for 2013.
Despite a tough environment, the group saw consolidated revenue remain stable, easing back just 0.1 per centto US$15.9bn.
Volumes carried rose by 7.5 per centto 11.4m TEUs, in a market where volumes increased by around 3 per centover the year, and as a result the decrease in average revenue per TEU was held to 7.1 per cent.
Impressively, consolidated net profit rose by 22.8 per centover the year to US$408m, partly as a result of the sale of 49 per centof Terminal Link in June.
“In 2013, in a difficult market, we successfully reduced our costs while increasing our volumes carried much faster than the market, enabling us to report one of the industry’s best financial performances,' explained Rodolphe Saadé, CMA CGM group executive officer.
'In this way, year after year, we are reinforcing our position as the world’s third largest container shipping company,' he added.'With these solid fundamentals and the pioneering spirit that has always been our strength, we are committed in 2014 to maintaining our profitability and driving faster growth.”
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