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First destination from new Istanbul airport to be Northern Cyprus
ISTANBUL: July 14, 2018. According to a report by ...

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Amerijet to adopt indexed fuel surcharge mechanism
MIAMI: July 12, 2018. Amerijet International Airli...

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Private equity firm Cinven to acquire Envirotainer
STOCKHOLM: July 12th, 2018. Envirotainer, a suppli...

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Harren & Partner reacquires offshore construction vessel
BREMEN, Germany: June 11, 2018. Bremen-based shipp...

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CMA CGM gets green light for Ceva investment
BAAR Switzerland: July 11, 2018. CMA CGM has obtai...

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Volumes jump at Brussels
BRUSSELS: June 11, 2018. Brussels Airport recorded...

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K+N adds Santiago to Pharma network
SANTIAGO: July 11, 2018. Kuehne + Nagel has expand...

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Skycell and DuPont form pharma alliance
ZURICH: July 12, 2018. SkyCell, the Swiss-based ma...

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BBC Chartering begins Gulf – Australia breakbulk service
LEER, Germany: July 10, 2018. BBC Chartering has l...

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First destination from new Istanbul airport to be...
Amerijet to adopt indexed fuel surcharge mechanism
Private equity firm Cinven to acquire Envirotainer
Harren & Partner reacquires offshore construction vessel
CMA CGM gets green light for Ceva investment...
Volumes jump at Brussels
K+N adds Santiago to Pharma network
Skycell and DuPont form pharma alliance
BBC Chartering begins Gulf – Australia breakbulk service...

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MARSEILLE: May 19, 2017. CMA CGM has reported a 35.9 percent year-on-year increase in Q1 2017 revenue to US$4.62 billion. The result includes APL figures for the first time.

APL ZeebruggeRevenue would have dropped 1.7 percent to US$3.34 billion excluding the APL contribution.

Net income for the period was US$86 million and US$60 million without APL, compared to a loss of US$100 million in Q1 2016.

"For the first time and less than a year after its acquisition, APL has contributed positively to our group's results," said CMA CGM Group CEO Rodolphe Saadé. "Although the shipping industry still faces strong headwinds, we are confident our strategy should allow to improve operational results over the next quarter, leveraging the new Ocean Alliance and maintaining our focus in operational efficiency and innovation to the benefit of our customers."

CMA CGM reported an EBIT margin of 5.5 percent to US$252 million and for the first time since 2011, APL registered "satisfactory quarterly results" with a return to profitability. The box carrier produced a gross operating income of US$56 million and a net result of US$26 million as a result of higher revenue per unit and cost control.

The group increased TEU volume in Q1 by 34.2 percent to reach 4.27 million while reducing its fleet capacity 1.8 percent to 445 vessels compared to the same period last year. Notwithstanding variable exchange rates and bunker prices, an improvement in freight rates is expected to increase EBIT margin during the remainder of 2017.

CMA CGM has begun the Ocean Alliance weekly NEU4 service linking Zeebrugge with ports in China and South Korea with the 13,380 TEU box ship APL Changi. Read more: Ocean_Alliance_Zeebrugge.pdf

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