CMA CGM's Pivot: Repatriating Fleet Under the French Flag as a Billion-Dollar US Pledge Remains in Limbo

Exactly one year after CMA CGM's CEO appeared in the Oval Office alongside President Donald Trump to announce plans to revitalize the US maritime sector, the French carrier has just made a decision that deeply surprised global supply chain observers.

The "Repatriation" Move of the Mega-Ship Fleet

The world's third-largest ocean carrier has officially announced it will re-flag a series of its vessels back to its home country of France.

Specifically, starting in 2026, ten mega-ships with a capacity of 24,000 TEUs will be registered under the French flag. This strategic move will boost the size of the carrier's home-registered fleet by 30%, reaching a total of 40 vessels.

The $20 Billion US Promise Remains in Limbo

The decision to expand its French-flagged fleet stands in stark contrast to the company's prior commitments in the US market.

In March 2025, CMA CGM CEO Rodolphe Saadé was present in the Oval Office when President Trump announced a massive initiative to rejuvenate the domestic US maritime sector. At that time, Saadé pledged to inject a massive $20 billion investment into the US shipping industry over four years.

However, the actual implementation paints an entirely different picture. As of February 2026, CMA CGM (which currently owns 7 terminal facilities in the US) has only disbursed about $1 billion. This entire sum was poured into port infrastructure in Bayonne, New Jersey, and Los Angeles. The carrier has not spent any capital on US shipyards for newbuilds, and to date, has registered only a single vessel under the US flag.

The 2025 Financial Picture: Volumes Up, but Profits Down

Parallel to its decisions on vessel flagging and routing, CMA CGM's 2025 financial report clearly reflects the broader pressures weighing on the global logistics market. Although container volumes recorded modest growth, the carrier's maritime revenue and profits retreated.

Key financial highlights for 2025:

● Transported Volume: Reached 24.2 million TEUs, up 2.8% year-over-year.

● Revenue: Dropped 6.1%, falling to $34.3 billion.

● Operating Profit (EBITDA): Tumbled from $11.2 billion down to $7.9 billion.

● EBITDA Margin: Contracted by 7.8 percentage points, settling at 23%.

● Average Revenue per TEU: Declined 8.7%, landing at $1,414/TEU.

Explaining this downturn, CMA CGM's leadership pointed to three core factors: the normalization of global trade, disruptions caused by geopolitical tensions, and vessel overcapacity in the market.

See more:

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• India: 95% of Trade Dependent on Foreign Fleets and the Ambition to Turn the Tide
• West Asia Tensions: Indian Exporters and Shipping Lines in Heated Standoff Over 'War Surcharges'
• Tanger Med Port Rises to Strategic Hub Status Amid Global Maritime Crisis
• Rate Volatility: CMA CGM Announces Sweeping Adjustments to FAK Rates and Peak Season Surcharges Across Major Trade Lanes
• Carriers Impose $4,000/FEU Surcharge in the Middle East: Indian Exporters Appeal to Government for Help
• The Cape of Good Hope Route: Becoming the 'New Normal' for Global Shipping?
• Middle East Crisis: MSC Declares Emergency "End of Voyage" for Gulf-Bound Cargo, Imposes $800 Surcharge
• COSCO schedules: Vietnam - North America in Mar 2026
• SITC updates Vietnam-Intra Asia sailing schedules in Mar 2026

Source: Phaata.com (According to Freight Waves)

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