CMA CGM piled on the profits in 2024 but is looking at the year ahead with a cautious eye because of the trade policies of US President Donald Trump.
As the world’s third-largest container liner operator reported earnings growth, it pointed to worries that US tariffs could affect supply chains.
The French company still expects stable global economic growth of 3%, which should fuel similar trade growth.
“Nevertheless, the prospect of higher tariffs announced in the US could have an impact on trade and lead to a reorganisation of global supply chains in the medium term,” it said.
CMA CGM said developments in the Red Sea — where peace in the Middle East could lead to a resumption of traffic if a Gaza ceasefire holds — and growing newbuilding deliveries will also shape the market.
“In this environment, the group remains prudent and is paying close attention to the changing economic and geopolitical situation, while remaining confident in its ability to weather the cycle thanks to its business diversification and financial strength,” it said.
Despite the caution, chief executive Rodolphe Saade said the liner will continue to invest in expanding its “low-carbon fleet” — a reference to its programme that has spent $20bn so far to build 153 LNG and methanol-fuelled vessels.
CMA CGM reported a profitable end to 2024.
Fourth-quarter net income surged to $1.53bn, reversing a $900,000 loss a year earlier.
That was driven by 38.8% growth in revenue, which reached $14.7bn.
The quarterly earnings pushed full-year profit to $5.71bn, which was $2.07bn more than the $3.64bn earned in 2023.
“Our group has delivered strong results this year, driven by our shipping activities,” Saade said.(Copyright)
