French shipping major CMA CGM recorded annual revenue of US$21.1 billion for 2017, an increase of 32.1% over 2016, surpassing the 20 billion mark for the first time.
The line carried almost 19 million containers in 2017, 21.1% more than the previous year, while average revenue per TEU rose by 9% due to an increase in freight rates.
Chairman and CEO Rodolphe Saadé pointed out that the significant increase in transported volumes and revenue was largely driven by the contributions of all the shipping lines operated by the group along with its acquisition of APL. It could also be largely attributed to the Transpacific market where the CMA CGM and APL brands were particularly strong, he said.
Saade expects the momentum of volumes transported last year to continue into 2018 and said that the shipping major would in future supplement its shipping services with inland logistics offerings.
