CMA CGM takes energy precautions
The CMA CGM Group has announced that it is creating a special fund for energies, backed by a five-year, USD 1.5 billion budget, to accelerate its energy transition and achieve net-zero carbon by 2050. The fund is structured around four lines of focus: firstly, developing and producing renewable fuels like LNG, biofuels, biomethane, e-methane, carbon-free methanol, etc.
Secondly, accelerating the decarbonisation of port terminals, warehouses and truck fleets by e.g. installing 1.8 million sqm of photovoltaic panels and expanding the use of LED lighting.
Thirdly, developing prototypes like an intra-regional container ship fuelled by liquid hydrogen or - as a stakeholder of Neoline - a sail-powered cargo ship set to serve transatlantic routes by the end of 2024.
And, finally, pursuing energy savings and improving the carrier’s energy efficiency, with the participation of the group’s 150,000 employees.
The carrier continued its positive trend in Q2/2022. Revenues stood at USD 19.5 billion, ebitda amounted to USD 9.6 billion, representing an ebitda margin of 49.2%. Net debt was significantly reduced in Q2/2022 by USD 1.5 billion, declining to USD 5.4 billion on 30 June 2022 (after accounting for current financial investments).
5.6 million teu were carried in Q2/2022, a moderate setback of 1.3% compared to Q2/2021. CMA CGM said that the volumes are still "being dampened by the congestion in ports and overland supply chains, which has led to longer vessel transit times."
Due to the price changes in bunker, vessel chartering and port handling, operating costs increased by more than 22% year-on-year, with unit bunker costs in particular surging almost 75% over the period. Revenues from logistics operations, generated mainly by the affiliate Ceva Logistics, totalled USD 3.8 billion in Q2/2022, while ebitda amounted to USD 340 million. (sh)