• 2019 September 10 10:20

    CMA CGM announces Q2 2019 results

    The CMA CGM Group delivers solid operating performance and above-market growth in volumes, despite an uncertain worldwide geopolitical environment, the company said in its release.

    In the second quarter, volumes transported by CMA CGM increased by 6.3% compared to the second quarter of 2018 and by 6.8% compared to the first quarter of 2019. This positive trend, which is above market, is driven by the strong growth of intra-regional lines (short sea) and the United States lines, which remain particularly dynamic.

    The Group thus relies on the network of intra-regional companies’ expertise that are leaders in their sectors:
     CNC, a specialist in Intra-Asia,
     Mercosul, a leader in cabotage and door-to-door services in Brazil.
     ANL, an expert for Australia and Oceania,
     Containerships, specialist in intra-Europe.

    Second quarter revenue was up 4.6% compared to the second quarter of 2018 and reached USD 6 billion for the Group's shipping activities.

    The deployment of the cost reduction plan allowed to reduce operational expenses by USD 51 per TEU (Twenty-foot Equivalent Unit) in the second quarter compared to the first quarter of 2019.

    This mainly comes from initiatives to rationalize certain trades, the efforts to always improve operational efficiency, lower logistics costs and the reduction of the Group’s ships consumption.

    Adjusted EBITDA came to USD 343.6 million and the EBIT margin amounted to 5.8%.

    The net result of the shipping operations reaches USD 2.3 million.

    Following the closing of CMA CGM’s friendly public tender offer for CEVA Logistics, a new corporate governance structure was put in place, with the election of Rodolphe Saadé as Chairman of the Board of Directors on 29 April, 2019 and the appointment of Nicolas Sartini as Chief Executive Officer effective 1 June.

    By consolidating the company’s management teams and support functions, the new operations centre in Marseille, which opened on 25 June, is strengthening the leadership and management of the Group’s logistics activities.

    Second-quarter revenue stood at USD 7.7 billion, a year-on-year increase of 35%. The activity of the Group’s maritime division has particularly benefited from the dynamisms of its intraregional lines and has posted a growth in volumes above global market growth.

    In the second quarter of 2019, the CMA CGM Group further enhanced its operating performance, backed by the optimized use of its modern fleet of 528 vessels (at 30 June) and the responsiveness of its market-aligned organization.

    Adjusted EBITDA came to USD 954 million for the period, of which USD 464 million from the impact of applying IFRS 16 and USD 147 million from the consolidation of CEVA Logistics. Excluding these two factors, adjusted EBITDA was up by a strong 60.1% year-on-year, at USD 343,6 million versus USD 214,6 million in second quarter 2018. This performance reflected both the sustained growth in revenue and the impact of the performance improvement and cost control plan under way since the beginning of the year.

    Adjusted EBITDA margin improved significantly year-on-year to 12.4%, one of the best in the industry and an improvement from Q2 2018 and the first quarter of 2019.

    The implementation of IFRS 16 and the recent acquisition of CEVA Logistics lead to a net result of USD -109 million for the second quarter.

    2019 Q2




2019 September 23

11:50 Workshop in Kenya focused on reducing marine plastic from ships
11:36 Abu Dhabi Ports’ container volume up 82.4% in the first half of 2019
11:29 Regional workshop in Saudi Arabia focused on clean shipping in Red Sea, Gulf of Aden and Gulf
11:04 Vympel Shipyard launches fourth Grachonok-class special purpose boat for Federal National Guard Troops Service
10:26 Brent Crude futures price is up 1.1% to $64.99, Light Sweet Crude – up 1.1% to $58.73
10:08 CMA CGM announces FAK rates from Asia to Red Sea
09:47 Container throughput of port Hong Kong (China) down 7.4% to 12.18 million TEUs in Jan-Aug’2019
09:25 Baltic Dry Index is down to 2,131 points
09:08 DNV GL awards AIPs to DSME for ethylene carrier cargo tank designs
08:49 MABUX: Bunker Market this morning, Sep. 23
08:06 Damen completes maintenance work on Innovation at Damen Verolme Rotterdam

2019 September 22

17:03 Höegh increases its frequency to Australia
16:21 USCG Cutter Seneca offloads more than 12,000 pounds of cocaine in Miami
15:16 Algoma announces agreement to acquire Croatian-built dry-bulk carrier
13:03 Van Oord: Second Sand Motor successfully completed
12:47 Ørsted to pioneer deployment of GE’s next generation offshore wind turbine
11:39 ZPMC orders compressors to pipelay vessel

2019 September 21

16:17 USCG responds to breakaway barges striking I-10 San Jacinto River bridge
15:14 Eastern Shipbuilding launches the C.D WHITE for E.N. Bisso & Son
14:06 Boskalis associate Smit Lamnalco signs first 10-year terminal services contract in Mozambique
12:52 Kongsberg wins first full-scope expedition cruise vessel tender, with gensets and propulsion equipment
11:34 Rauma Shipyard bags Finnish Navy's four corvettes order

2019 September 20

18:41 Vostochny Port joins Coordinating Council on Trans-Siberian Transportation as its permanent member
18:22 IAA PortNews offers photo release from 'Development of Icebreaking and Support Fleet' conference held on NEVA 2019 zero-day
18:05 Global Ship Lease announces new five-year $268 mln credit facility for debt refinancing
17:24 Vostochny Port’s harbour services fleet presented at dedicated conference in Saint-Petersburg
17:05 F. A. Vinnen places entire fleet with Verifavia Shipping & Rina for IHM services
16:50 Helsinki Shipyard (Finland) to build two liners for polar cruises
16:35 COSCO SHIPPING Ports announces disposal of interest in various port assets and possible disposal of Taicang Terminal and Jiangsu Petrochemical Terminal
16:21 ABB presents electric power and propulsion solutions for icebreaking vessels at NEVA 2019
16:05 Port of Los Angeles protects overall clean air gains
15:19 Port of Riga rapidly increases volume of handled wood pellets
14:53 South Korean port to slash passenger vessel emissions with ABB shore power
14:15 Krasnoye Sormovo launches Pola Pelagia, dry cargo carrier of Project RSD59З, for Pola Rise
13:30 Damen Shipyards Group is ready to ensure construction of electric water buses for rivers and canals of Saint-Petersburg and Russia
13:12 MSC Cruises and Fincantieri unveil further details of MSC Seashore at coin ceremony
12:24 Victor Olersky sees promising future of electric river passenger ships in Saint-Petersburg and in Russia
12:09 Algoma Central Corporation announces agreement to acquire Croatian-built vessel
11:28 Specifications for 0.50% sulphur fuels and the PAS from ISO: IBIA explains
11:09 GTT obtains Approval in Principle from Bureau Veritas for the Mark III Flex technology on ice-breaking LNG carriers
10:52 IBIA and S&P Global Platts collaborate to help shipping industry comply with IMO 2020
10:31 Workshop for training on emergency response, preparation and planning held in Manila
10:09 Van Oord and Shell test the use of biofuel on trailing suction hopper dredger HAM 316
09:50 State Duma ratifies Convention on the Legal Status of the Caspian Sea
09:33 Brent Crude futures price is up 0.20% to $63.73, Light Sweet Crude – up 0.98% to $58.7
09:25 Lloyd’s Register, China Merchants, GTT, CNOOC, DSIC form jv to design LNG-fuelled VLCC
09:17 Baltic Dry Index is down to 2,192 points
08:58 MABUX: Bunker Market this morning, Sept 20

2019 September 19

18:04 Bibby Marine Services takes the next step to optimize walk-to-work operations
17:56 Marinet approves Poseidon maritime cyber security project
17:37 American Ethane reveals plans to order 17 VLECs
17:34 Wärtsilä’s Board of Directors decided on the distribution of the second dividend instalment
17:22 Marinet approves T2OT project for high accuracy positioning of seagoing vessels
17:04 VARD secures advanced stern trawler contract with Luntos
16:50 Average wholesale prices for М-100 HFO down to RUB 14,328 in RF spot market
16:34 Zeebrugge port authority invests in new 1,071 meter quay wall
16:04 RINA to classify Swedish Maritime Administration fleet
15:53 Marinet set to establish exports support center in Finland in 2020
15:34 MacGregor secures orders worth more than EUR 20 million for projects in Europe and Asia
15:05 Wärtsilä foresees a lower result for 2019