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CMA CGMMARSEILLE: September 15, 2017. CMA CGM has reported a 56.8 percent increase in second quarter 2017 revenue to US$5.55 billion and a net income of US$219 million – a turnaround from a loss of US$129 million for the same period last year.

The company said volumes grew 33.3 percent during the period to 4.73 million TEU due to the integration of APL, the launch of the OCEAN ALLIANCE and a 12.5 percent increase in average revenue per container. As a result, the pre-tax figure went from a loss of US$81 million to a profit of US$472 million year-on-year.

Following a €650 million bond issue and a new revolving credit facility of US$205 million in July, CMA CGM is ordering nine 22,000 TEU container ships, with the first arriving in late 2019, in order to further reduce unit transport costs on the Asia-Europe routes.

"The group releases excellent financial results for the 2nd quarter, with a core EBIT margin sharply rising thanks to our strategy of profitable growth," said CEO Rodolphe Saadé. "Once again, CMA CGM outperforms the industry and demonstrates the excellence of its operational management as well as the relevance of its strategy."

In addition to the OCEAN ALLIANCE launch during the second quarter, the company signed a joint venture with Adani to operate the new container terminal at the port of Mundra, India; agreed to buy Brazilian box carrier Mercosul from Maersk Line; and sold a 90 percent stake in its Global Gateway South Terminal (GGS), Los Angeles to EQT Infrastructure for US$817 million.