CMA recently stated that due to strong economic growth, it is expected that the industry will continue to rebound this year to ease the direct impact of geopolitical tensions.glenflange
CFR Cleveland, headquartered in France, is one of the largest container shipping companies in the world. It announced its net profit for 2017 of US$701 million last Friday. This was a turnaround for the company after a decline in shipping in 2016, which was a loss of US$452 million at the time. .
“Despite geopolitical issues, we are very optimistic about the prospects for 2018,” said Rodolphe Saade, Chairman and CEO of CMA, “It's too early to say whether it will be as good as 2017, but the prospects are It is positive."
Despite this, various tensions such as the adoption of trade protection measures by the United States, diplomatic disputes between the United Kingdom and Russia, and political uncertainty in Italy are still worrying because they may affect business and consumer confidence.
According to CMA Group, which is controlled by the Saade Family, its operating profit margin in 2017 was 7.5%, which is higher than the 0.2% in 2016. It is a leader in the container industry and reflects the demand for efficiency improvement.glenflange
Last year, CMA's container throughput increased by 21.1% to nearly 19 million, including a 10.9% year-on-year increase in the fourth quarter.
The company stated that CMA's vessels benefited from industry consolidation, including the acquisition of Singapore's APL line in 2016 and the launch of the Ocean Alliance, which forms a ship-sharing partnership with Asian partners.
Saade stated that since 2016, after the wave of consolidation transactions, the remaining acquisition targets in the container shipping sector have been few, but CTM Group still has opportunities.
Including industry leader Maersk Line's acquisition of Hamburg South America, the number of global container shipping companies has almost halved since 2015.glenflange