The Board of Directors of the CMA CGM Group, a world leader in shipping and logistics, met today under the chairmanship of Rodolphe Saadé, Chairman and Chief Executive Officer, to review the consolidated financial statements for the 2020 fiscal year.
Upon
publication of the 2020 results, Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, commented:
“2020 will remain a year of contrasts. Due to the multiple lockdowns and the unwavering consumption of goods, our customers had to deal with unprecedented complexity with regard to the management of their logistics. They had to count on CMA CGM Group and our fully committed teams to support them during these extraordinary times.
The year 2020 also demonstrated how valuable our strategy is. Our agility, along with the digital transformation carried out over the past few years, and the synergy between our shipping and logistics solutions with CEVA Logistics have proven to be key assets.
In 2021, the volumes shipped should remain strong, at least throughout the first part of the year. To better meet our customers’ needs, we have created a new dedicated air freight division called CMA CGM AIR CARGO.
"We are expanding our service offering by further developing our logistics business. And we are growing our fleet of vessels with the delivery of 13 additional LNG-powered container ships.”
A Group committed to providing its customers with solutions in an unprecedented context
The CMA CGM Group’s business activities during the fiscal year 2020 were carried out in unprecedented circumstances due to the COVID-19 pandemic. The first half of 2020 saw a global decline of 7% in container shipping compared with the first half of 2019 due to lockdown measures in several countries, including China.
Since the very beginning of the pandemic, the Group introduced measures aimed at protecting its employees, whether they were based at sea or in offices, warehouses, terminals and agencies around the world. Moreover, the CMA CGM Group reacted quickly to secure the transport of essential goods and products, in particular through the creation of several logistics bridges between Asia and the rest of the world. The CMA CGM Group also undertook solidarity actions to distribute medical equipment and millions of masks worldwide.
The second half of 2020 saw a strong rebound in container volumes (+4.3% compared to the second half of 2019), notably due to the shift in household spending from services to consumer goods. The combined impact of inventory rebuilding and the sharp acceleration in e-commerce helped support global trade.
Against this backdrop, CMA CGM drew on its shipping and logistics expertise to meet the heightened needs of its customers by adapting the capacity of its fleet in a flexible and rapid manner and by developing new solutions.