Shipping group CMA CGM benefited in the third quarter from the strong global demand, with the company delivering solid performances in the third quarter.
The French company reported net income of $2.73bn for third quarter, up from $388m in the same period last year.
Container shipping continued to enjoy steady momentum, CMA CGM said, with sustained demand giving rise to an early peak season characterized by high volumes.
Volumes carried on the main shipping routes remained very high over the third quarter as a result.
The Group’s revenue stood at $15.8bn in the third quarter of 2024, up 38.5%, compared with the third quarter of 2023, driven mainly by the shipping business.
Ebitda totaled $5bn and the margin came in at 31.4%, up 14.0 points.
CMA CGM said the strong demand was mainly attributable to anticipation and inventory rebuilding in an environment still roiled by geopolitical tension, the prospect of port strikes on the US East Coast and the US presidential election on November 5.
Businesses are waiting now to see if Donald Trump will impose tariffs on China and other countries as he promised during his U.S. presidential campaign.
“In a context of geopolitical and economic uncertainties, our Group has delivered solid performances in the third quarter, with a very dynamic maritime activity and a logistics pillar that continues its transformation,” CMA CGM’s chairman and chief executive officer Rodolphe Saadé commented on the results for the period.
The French shipping company expects 2025 to be shaped by many sources of uncertainty as macroeconomic trends, regulatory changes and geopolitical challenges may continue to weigh on the fluidity of maritime shipping and logistics.
