The financial statements of worldwide container shipping group CMA CGM reveal a recovery in business in late 2009, which gains further momentum in the first six months of 2010.

Revenue for the period amounted to $6.8 billion, with freight volumes rising by nearly 22 percent year-on-year to 4.4 million teu. The lower fixed-cost base resulted in one of the shipping industry's highest operating margins (EBITDA), at 15.5 percent for the first half and 18.8 percent for the second quarter alone.

These results reflect the Group's strategic investment in large containerships and the deployment of a cost reduction plan. Other contributing factors were the strong commitment of all of the Group's teams and the upturn in global economy, which drove an increase in both volumes carried and freight weights.

To keep pace with the growth in freight volumes, CMA CGM is continuing to expand its fleet by charting in new ships and taking delivery of six new buildings in July and August.

In the second half, the Group will continue to reduce costs, in order to optimize its business model and consolidate its growth on reinforced financial bases. Second quarter performance is expected to continue over the third quarter and year-end trends remain positive.

Edited by Ellie Duncan

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