Gone are the periods of the pandemic when shipowners' profits were breaking all records. In the first quarter, CMA CGM, the world's third-largest container ship operator, continued to earn profits. But its profits ($ 2 billion or 1.9 billion euros) have been divided by more than three compared to last year.
And the Marseille group warns: economic slowdown obliges, "the first quarter should be the best quarter of the year". Due to a slight decline in volumes and a collapse in shipping prices, its turnover fell by 30.2% to 11.8 billion euros. The fall would have been more spectacular if the group had not multiplied acquisitions in logistics less prone to jolts than maritime transport.
Thanks to the integration of Ingram CLS, Gefco and Colis Privé purchased in 2022, sales of this division increased by 14.1% to €3.6 billion. Revenue from the maritime business plunged 40.3% to €8.3 billion.
