The Board of Directors of the CMA CGM Group, a global player in sea, land, air and logistics solutions, met today under the chairmanship of Rodolphe Saadé, Chairman and Chief Executive Officer, to review the financial statements for the first quarter of 2022.
Commenting on the results just released for first quarter 2022, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, said:
"During the first quarter, our Group accelerated the deployment of its strategy to become a world leader in integrated logistics. We have also taken further steps in our energy transition by forging innovative partnerships to develop low-carbon fuels and by deciding to diversify the energy sources for our future vessels.
Due to strong demand, lack of available transport capacity and persistent port congestion, tensions in global supply chains are expected to continue. We remain mobilized to improve service quality and to meet the logistics challenges of our customers. We are also vigilant in the face of the risk of a deterioration in the global economic situation, linked to the pandemic, the rise in inflation and the war in Ukraine."
Stepping up
investments to support our supply chains customers
The first quarter of 2022 continued to be impacted by COvid-19 pandemic, with a return to lockdowns in certain parts of the world, major tension on global supply chains and geopolitical tensions.
Against this backdrop, and to support the growth of the transport market in the years ahead, the Group has continued with its investments to strengthen its shipping, port, logistics and air freight network. These investments will allow CMA CGM to provide comprehensive solutions and improve the quality of service to its customers while stepping up its energy transition. With this ambitious investment program, the Group aims to strengthen its customers' supply chains to serve the global economy.
The current operating environment is affected by port and inland congestions, as well as scarcity of assets. This has resulted in a marked increase in operating expenses, in particular vessel chartering costs, additional port handling costs, and labor costs for logistics activities. Moreover, the recent deterioration of the geopolitical situation has triggered major energy price increases which have led to a 46% rise in bunker costs between the first quarter of 2021 and the first quarter of 2022.
Shipping: major expansion of the fleet with an order book of 69 vessels
- A new order of 16 vessels, including 10 dual fuel LNG-powered and 6 dual fuel methanol-powered, bringing the orderbook to 69 vessels.
- Three new 15,000 TEU (Twenty-foot Equivalent Unit) vessels and five new 15,000 TEU chartered vessels have been added to the Group's fleet during the first quarter of 2022.
- Acquisition of 26 second-hand vessels since January 1st, of which 14 during the first quarter of 2022.
- An additional 95,000 containers during the first quarter.
For more information: cmacgm-group.com