The world’s third largest container line CMA CGM is taking container shipping size to another level with a recent 20, 000 teu capacity ship orders.
The company just recently posted a 43.2 per cent jump in net profit in 2014 to $584m, as it finalises orders for the largest containerships yet ordered.
In continued proof that scale is beneficial in mainline container shipping profit growth of 43.2 per cent, last year far outstripped volume growth of 8.1 per cent as the line handled 12.2m teu last year. Revenues in 2014 were up 5.3 per cent at $16.7bn.
Breaking the recent record with its 20,000 teu capacity container ship orders by Mitsui OSK Lines and Evergreen Group, the French line said it was finalising orders for a trio of 20,600 teunewbuildings to be delivered in 2017. The yard was not disclosed.
Early this year the Oceans Three Alliance with United Arab Shipping Corp (UASC) and China Shipping Container Line (CSCL), both of which have newbuildings in the 18,000 teu – 20,000 teu class being delivered. CMA CGM will take delivery of six 18,000 teu ships this year, three of which it owns.
“CMA CGM’s performance in 2014 was extremely robust. By combining operational excellence, disciplined financial management and innovation, we have delivered strong growth in results with one of the industry’s highest margins and an even healthier balance sheet,” commented M. RodolpheSaade, CMA CGM group vice chairman.