Monday, 29/07/2024, 15:01 (GMT +7)
1301
CMA CGM's profit drops 50% in Q2 2024
CMA-CGM container vessel (Source: CMA-CGM)
French shipping company CMA CGM Group has reported a more than 50% drop in second-quarter profit. CMA CGM posted a net profit of $661 million in Q2 2024, down $670 million from the same period last year.
In contrast, the Group's revenue reached $13.1 billion in Q2, up 6.8% year-on-year. However, CMA CGM's earnings before interest, taxes, depreciation and amortization (EBITDA) fell 4.3% to $2.48 billion and its profit margin was 18.9%, down 2.2 percentage points.
CMA-CGM second quarter 2024 financial performanceSource: CMA CGM
Commenting on the results, Rodolphe Saadé, Chairman and CEO of CMA CGM Group, said: “Amid sustained demand, our Group delivered a solid performance in the second quarter, with a dynamic shipping business and a growing logistics pillar. We were able to adapt by redeploying capacity in response to the operational challenges caused by major disruptions on the main shipping routes. The Group has made key investments to accelerate the industry's decarbonization by renewing and upgrading its fleet, and to pursue its digital transformation by leveraging artificial intelligence.”
The spot rate hikes that began in the first quarter have continued into the second quarter, the company said. The company also noted that amid stable demand, the situation in the Red Sea and the diversion of vessels around the Cape of Good Hope continue to put pressure on available capacity.
Meanwhile, CMA CGM shipped 6 million TEUs in the second quarter, representing a 6.8% year-on-year increase in container volumes. The increase was driven by buoyant global trade and rising demand for freight, led by stable household consumption and continued inventory rebuilding, which impacted carriers offering trans-Pacific and Asia-Europe services, among others, the French carrier said in a statement.
Source: CMA CGM
Uncertain macroeconomic and geopolitical environments are likely to continue to weigh on mobility of shipping and logistics, CMA CGM said, adding that it is "continuing to invest in its industrial capabilities and digitization in order to offer customers the highest level of service and continue to decarbonize shipping and logistics."
Source: Phaata.com (via CMA CGM)
Phaata.com - Vietnam's First International Logistics Marketplace
► Find Better Freight Rates & Logistics Services!
Featured News
- Hapag-Lloyd applies Peak Season Surcharge from East Asia to USA and Canada
- The world\'s largest container ships MSC Irina and MSC Loreto floated
- MSC (Mediterranean Shipping Company) - The world\'s leading container shipping lines
- Information you need to know about Maersk Line
- Top 10 export and import goods between Vietnam - Philippines in the first 5 months of 2020
Market News
See more
.webp)
.webp)
.webp)
.webp)
HOT PROMO
See more
473
Other
INTERLOG CORP - CÔNG TY CỔ PHẦN GIAO NHẬN TIẾP VẬN QUỐC TẾ
908
FCL
50 Days
Freight cost
NP LOGISTICS CO.,LTD
1358
FCL
35 Days
Freight cost
CÔNG TY TNHH CARDINAL GLOBAL LOGISTICS (VIETNAM)
Premium
1684
Other
TRUNG PHÁT LOGISTICS - TPL
1733
FCL
3 Days
Freight cost
Interchains JSC
Why do thousands of businesses trust Phaata?
USERS/MONTH
LOGISTICS COMPANIES
REQUEST FOR QUOTEŚ
QUOTATIONS
VIETNAM LOGISTICS COMMUNITY
5 Steps to Get the Best Quote
Find a price quickly/Send a RFQ
Compare multiple options
Contact for Further Consultation
Negotiating prices/services
Management & rating
Freight rates
Sea freight
- FCL
See more
379
14
Days Transit
- ₫4,101,765 / 20'GP
- ₫9,394,365 / 40'GP
- ₫9,394,365 / 40'HQ
GIA LINH LOGISTICS SERVICES CO., LTD. (G LINK Logistics)
602
44
Days Direct
- ₫97,913,100 / 20'GP
- ₫103,205,700 / 40'GP
- ₫103,205,700 / 40'HQ
ALLIANCE INTERNATIONAL LOGISTICS CO., LTD
Premium
348
3
Days Direct
- ₫1,587,780 / 20'GP
- ₫3,175,560 / 40'GP
- ₫3,175,560 / 40'HQ
.webp)
GAMA INTERNATIONAL CORPORATION
332
90
40
Days Direct
- ₫284,556,639 / 20'GP
- ₫273,971,439 / 40'HQ
CÔNG TY TNHH TIẾP VẬN TOÀN CẦU KM
Sea freight
- LCL
See more
305
45
Days Transit
- ₫342,082 /cbm
CÔNG TY TNHH LIÊN KẾT HOÀN HẢO (PERFECTLINK CO.,LTD)
1,940
7
Days Direct
- Refund ₫261,590 /cbm
CÔNG TY TNHH VẬN TẢI VÀ TIẾP VẬN TOÀN CẦU
4,567
5,485
5
Days Direct
- ₫26,463 /cbm
CÔNG TY TNHH T&M FORWARDING - CHI NHÁNH HÀ NỘI
5,873
3
Days Direct
- Refund ₫926,205 /cbm
CÔNG TY CỔ PHẦN GIAO NHẬN VẬN TẢI HỒNG SƠN
Air freight
- General cargo
See more
6,885
1
Days Direct
- 46,310 ₫/kg
N.B.L INTERNATIONAL TRANSPORT CO., LTD
8,838
1
Days Direct
- 161,424 ₫/kg
CÔNG TY CỔ PHẦN GIAO NHẬN VẬN TẢI HỒNG SƠN
11,263
10
Days Transit
- 264,630 ₫/kg
Phoenix Logistics Vietnam - chi nhánh TP. Hồ Chí Minh (Phoenix International Forwarding Vietnam )
12,729
1
Days Direct
- 185,241 ₫/kg
CÔNG TY TNHH THƯƠNG MẠI VÀ DỊCH VỤ FASTRANS
10,249
Rail freight
- FCL
See more
8,219
5
Days Direct
- ₫44,987,100 / 40'HQ
- ₫44,987,100 / 45'HQ
CÔNG TY TNHH PHƯỚC TÁ
11,198
3
Days Direct
- ₫15,083,910 / 40'HQ
CÔNG TY CỔ PHẦN VẬN TẢI VÀ THƯƠNG MẠI ĐƯỜNG SẮT
20,956
7
Days Direct
- ₫48,956,550 / 20'GP
Công ty TNHH T&M Forwarding
19,478
5
Days Direct
- ₫7,145,010 / 20'GP
ASIAN EXPRESS LINE VIETNAM ( AEL VIET NAM )
11,089
10
Days Direct
- ₫9,262,050 / 20'GP
CÔNG TY CỔ PHẦN LOGISTICS QUỐC TẾ V&T
Road freight
- FCL
See more
1,241
4
Day
- ₫5,000,000 / 40'GP
CÔNG TY CỔ PHẦN IGAP
12,589
1
Day
- ₫28,000,000 / 20'GP
- ₫28,000,000 / 40'GP
CÔNG TY TNHH THƯƠNG MẠI DỊCH VỤ VÀ KHO VẬN VIETTEL POST - TTC
113,363
2
Day
- ₫6,500,000 / 40'RF
- ₫6,500,000 / 40'RQ
- ₫6,500,000 / 45'RQ
CÔNG TY CP PROSHIP
Premium
181,590
1
Day
- ₫18,997,200 / 20'GP
- ₫18,997,200 / 40'GP
CÔNG TY CỔ PHẦN GIAO NHẬN VẬN TẢI CON ONG
268,321
3
Day
- ₫32,000,000 / 20'GP
- ₫64,000,000 / 40'GP
- ₫64,000,000 / 40'HQ
- ₫64,000,000 / 45'HQ
Công ty Cổ phần phát triển thương mại Thuận Đạt Việt Nam
