• 2023 March 6 10:42

    CMA CGM posts 2022 results

    CMA CGM's full-year 2022 revenue stood at USD 74.5 billion, a 33% increase versus 2021 led by the Group’s maritime shipping business, according to the company's release. EBITDA came to USD 33.3 billion, representing an EBITDA margin of 44.7% or 3.4 points higher than the year before. Net income, Group share amounted to USD 24.9 billion for the year. The Group continued to strengthen its balance sheet, with net debt holding steady at USD 7.7 billion as of December 31, 2022. In addition, the Group has USD 11.6 billion in short-term financial assets.  

    In 2022, 21.7 million TEUs were transported, down 1.3% from 2021. Revenue from the maritime shipping operations rose by 30.1% year-on-year, to USD 58.9 billion. EBITDA stood at USD 31.6 billion, versus USD 22.1 billion in 2021. EBITDA margin widened by five points to 53.7%, lifted by the USD 2,771 in average revenue per TEU during the year.  

    Revenue from the logistics business rose by a steep 47.6% to USD 16.1 billion versus 2021. Growth was supported by robust expansion in the freight management business, particularly in the first half, as well as by recent acquisitions. EBITDA ended the year at USD 1,223 million, a 38.7% increase on 2021.  

    Volumes transported by CMA CGM on East-West routes declined by 7.2% in the fourth quarter, while the North-South routes proved more resilient thanks in particular to the sustained growth of certain emerging economies. Lastly, intra-regional volumes suffered both from the Russian-Ukrainian events (with the termination of Russian services) and from the lack of capacity in Asia early in the year.

    The Group owns equity stakes in more than 56 port terminals and projects around the world. In 2022, CMA CGM stepped up its investments in industry-leading infrastructure to continue supporting growth in its shipping lines and enhance the quality of its customer service. The Group now owns 100% of the Fenix Marine Services (FMS) terminal in the Long Beach/Los Angeles port area, the US’s leading West Coast import gateway; has started its 10-year operation to manage, operate and maintain the Beirut container terminal; and has been awarded the concession for the Nhava Sheva terminal in India, with its partner JM Baxi. Late in the year, CMA CGM announced the acquisition of two strategic terminals at the Port of New York, GCT Bayonne and GCT New York, which have a combined capacity of two million TEUs per year with potential for further expansion up to almost double the current capacity. The closing of this transaction remains subject to regulatory approvals.  

    Following the acquisition of CEVA Logistics in 2019, CMA CGM accelerated its transformation in 2022 with the completion of three strategic acquisitions:  Ingram Micro’s Commerce & Lifecycle Services business, which provides end-to-end e-commerce logistics solutions, including warehousing, inventory management, shipping and returns. The acquired assets represent annual revenue of an estimated USD 1.8 billion in 2021 and 11,500 employees in 59 warehouses around the world, with a strong presence in the United States and Europe.  Colis Privé, a specialist in home delivery and parcel pick-up in France, Belgium and Luxembourg.  GEFCO, a European leader in automotive logistics, with a focus on finished vehicles as well as other contract logistics and ground transport services. 

    In line with its commitment to making CMA CGM AIR CARGO a French air freight carrier with a fleet of 12 aircraft by 2026, the Group obtained its Air Operator Certificate (AOC) from the French Civil Aviation Authority (DGAC) on June 1, 2022.  Following the delivery of two Boeing 777Fs, CMA CGM AIR CARGO began operating in early June from its new base at Paris Charles de Gaulle airport.  Regular service is now offered from Paris-CDG to Hong Kong, Chicago, Miami and Shanghai. To drive quicker growth in the business, a long-term strategic air freight partnership was signed with Air France-KLM. The exclusive commercial partnership, which would start operations in April, will enable the parties to jointly market their air cargo networks, full-freighter capacity and dedicated services to build an increasingly competitive array of solutions, thanks to the expertise and global footprint of Air France-KLM and CMA CGM.  As part of the agreement, the Group acquired a 9% stake in Air France-KLM, becoming its largest private shareholder, and Rodolphe Saadé became a member of the Air France-KLM Board of Directors. The transaction remains subject to the usual regulatory approvals.  

    Almost 90% of the year’s profits are being reinvested, €23 billion invested to grow the Group’s business, including €2 billion in France. 

    The CMA CGM Group is committed to achieving Net Zero-Carbon by 2050 and intends to accelerate the energy transition in shipping and logistics. The Group has reduced carbon emissions per container carried by 50% since 2008.

    $10,2 billion (USD) already committed for a fleet of 77 LNG-powered and “e-methane ready” vessels of which 32 are already in operation and six biomethanol-powered, e-methanol ready ships will be available by the end of 2026. Nine new e-methane ready dual-fuel container ships joined the fleet in 2022.

2023 May 28

11:43 EMGS reports first quarter 2023 results
11:19 Vineyard wind offshore substation heads for Massachusetts, USA
10:07 Jan De Nul announces 2022 a record-breaking year
09:52 Viking announces new expedition voyages in the Arctic
09:17 McDermott awarded PMC contract from IOCL

2023 May 27

16:02 Orsted opens a new era in green shipping by breaking ground on Europe’s largest e-methanol project
15:18 COSCO SHIPPING Lines and OOCL fleets improve supply chain service efficiency
13:42 Updade on investment in Newcastlemax newbuilding with long-term charters
12:09 BASF puts new ship into service for low water on the Rhine
10:57 China Classification Society completed the modification survey of the cruise chip’s high-voltage shore power system of M.V. “PIANO LAND”

2023 May 26

18:20 IAA PortNews’ summary of past week news
18:07 Allseas awarded T&I work for BalWin1 and BalWin2 offshore grid connection systems
17:40 Erik Thun invests SEK 36 million to install battery packs on nine of its existing vessels in the dry cargo fleet
17:10 NORDEN to acquire the Thorco Projects business
16:57 First Transatlantic voyage sailing on biofuels reduces 68% GHG emissions
16:25 ICS calls on governments to set the course towards a net zero future in July
15:55 TAZMAR MARITIME supports I Hydrographic Conference as its Sponsor
15:24 MPA of Singapore hosts workshop on developing emergency responses for ammonia bunkering
14:43 MSC adds Dammam to South Africa Service
14:22 Total throughput of China’s sea and river ports in 4M’2023 climbed by 7.6% YoY to 5.28 million tonnes
14:03 Strengthening oil spill preparedness plans in Mauritius
13:23 Prime Minister of Belarus assessed prospects of the Northern Sea Route
13:13 Largest container ship in the world calls on Port of Antwerp-Bruges
12:31 Port Houston releases Houston Ship Channel economic impact study
12:06 GTT signs a new Technical Services Agreement with Eastern Pacific Shipping and CoolCo
11:37 Shipbuilding Corporation Ak Bars covered by new export-related sanctions of Japan
11:29 DP World cut total global carbon emissions by 5% in 2022
10:58 ClassNK grants Innovation Endorsement for Products & Solutions to Fleet Secure Endpoint
10:25 MABUX: Bunker Weekly Outlook, Week 21, 2023.
10:18 Nevskoye Design Bureau to design R/V Ivan Frolov
09:29 Handling of Belarussian cargo in Murmansk port exceeded 95 thousand tonnes, 3 times more than over the entire 2022

2023 May 25

18:06 Integr8 Fuels warns on bunker quality
17:55 Operation of Oboronlogistics' ferry Lavrentiy temporarily suspended
17:32 Ahlmark Lines orders two newbuilds
17:06 HD Korea Shipbuilding wins 122.3 bln-won order for 2 product carriers
16:39 Exports of Russian fish products to China in Q1’23 rose by 78% YoY to $553 million
16:37 Future Proof Shipping launches first hydrogen-powered inland container ship
16:16 Tactical firefighting drill held at CPC Marine Terminal near Novorossiysk
16:13 Dutch Ministry of Infrastructure allocates 140 million euro to help realise shore power plants in sea ports
15:50 Commercial Seaport of Nakhodka welcomes the largest ship in its history
15:32 Royal IHC secures launch customer for its new MD3 subsea fibre optic telecoms plough
15:03 NYK exhibits zero-emission vessel at G7 Hiroshima summit
14:45 Bulker stuck in Suez Canal after engine trouble
14:24 Transportation of containers on Russian Railways’ network in 4M’2023 rose by 8.5% YoY to 2.35 million TEU
13:37 Baltiysky Zavod to build multifunctional nuclear service vessel for Atomflot
13:21 MOL earns 2 awards in 'Ship of the Year 2022'
12:55 ICTSI Manila partners with Autosweep to improve gate process for trucks
11:56 Alfa Laval advances fuel transition with FCM Methanol for four pioneering methanol-fuelled vessels
11:46 Rosmorport plans to invest RUB 5 billion over two years to strengthen the security of seaports
11:30 Tanzania to invite global investor to take over port operations
10:50 BlackSky and Spire to create a real-time Maritime Custody Service
10:29 Throughput of the Leningrad Region ports rose by 10% in 2022
10:08 Government of Canada announces major investment for the renewal of the Canadian Coast Guard’s small vessels fleet
09:41 EFIP finalises the position on hydrogen development in inland ports
09:30 Sredne-Nevsky Shipyard launches second passenger catamaran ‘Fort Peter I’ of Project 04580 Kotlin
09:12 Damen Shipyards inks contract with Van Wijngaarden Marine Services B.V. for the largest Damen Multi Cat 3713

2023 May 24

18:06 TotalEnergies and Colorado State University collaborate to establish a protocol of qualification for methane measurement technologies
18:04 Okskaya Sudoverf launches second salvage tug of NE025 design intended for Marine Rescue Service
17:46 Borealis and IINO Lines sign long-term charter contract for the LPG vessel Oceanus Aurora
17:16 Mitsubishi, Storm Group join forces on dual-fuel, methanol/diesel retrofit kit