The Log Book: CMA CGM donates 12,000 turkeys to families nationwide

The Log Book is a weekly rundown of human-interest stories related to the transportation industry. This week: CMA CGM donates 12,000 turkeys, Gopuff donates $100,000 to fight food insecurity and supports rapper Quavo’s turkey drive, and SC Ports employees donate their Thanksgiving gift cards to a local food bank.

CMA CGM donates 12,000 turkeys to families nationwide

This Thanksgiving, global shipping and logistics company CMA CGM Group partnered with city food banks and The Salvation Army to...

In the dock: Echoes of the decade-old CMA CGM Libra grounding still resonate

“It is incredible to think that the momentary decision of a master to pass Xiamen channel buoy 14-1 to port, the circumstances that led up to that decision and consequences that followed, are still being debated some 10 ½ years later and yet, here we are, having waited with bated breath for the supreme court to hand down one of the industry’s most hotly anticipated judgments of recent times.”

So write Claire …

The post In the dock: Echoes of the decade-old CMA CGM Libra grounding still resonate...

MSC and CMA CGM expand fleets with second-hand buys and newbuilds

MSC and CMA CGM are continuing to grow their fleets with second-hand vessel acquisitions and newbuilding orders.

MSC, already set to overtake Maersk Line as the world’s largest liner operator, was reported by brokers to have acquired the 2014-built 4,896TEU X-Press Jersey and the 2015-built 5,001TEU X-Press Guernsey from Singapore-based Sea Consortium, parent of X-Press Feeders.

The total reported purchase price of US$210 million is a new record for Panamax boxships of this age, according to...

Against the odds: Of Ceva, taxes and death

As the old saying goes, in life nothing is certain except death and taxes.
Then enter Ceva Logistics.
Serious business
Having sifted through the interim results of the CMA GCM group released last Friday, we can easily wonder if its 3PL arm Ceva, for which disclosure is minimal, is perhaps still doing too much business that it wouldn’t be doing if it were focused only on profitable accounts.
That’s implied in its ebit margin …

The post Against the odds: Of Ceva, taxes and death appeared first on T...

Berthing challenge for new transpac carriers arriving on the west coast

Matson and Ocean Alliance member containerships arriving at the heavily congested US west coast hub ports of Los Angeles and Long Beach are getting worked well ahead of their competitors, according to an Alphaliner survey.
Analysis by the consultant of the transit times of 62 import vessels, taken from the last Asian port of loading to berthing at LA and LB terminals during the two-week period from 5-19 November, ranged from …

The post Berthing challenge for new transpac carriers arriving on the...

CMA CGM reschedules services to avoid congestion

CMA CGM has published the revision of a couple of its services with port call removals, as an effort to confront the global port congestion.

Firstly, the French carrier will omit the Port of Savannah, US on its Liberty Bridge service connecting North Europe with US East Coast aiming to ensure its schedule integrity.

CMA CGM noted that Savannah will be excluded from the Liberty Bridge service’s vessel rotation on a temporary basis due to the ongoing congestion in the port.

Below are mentioned the...

CMA CGM Group’s Profit Hits $5.6 Billion For Q3 2021; Revenue Increases By 89.4% From Last Year

CMA CGM Ship passing panama canal

CMA CGM has recorded a whopping profit of $5.6 billion in 2021’s third quarter. This is an increase from $567 million recorded during the same phase last year.

In Q3 2021, CMA CGM’s revenue touched $15.3 billion, increasing by 89.4% compared to 2020’s third quarter. Driven primarily by its exclusive shipping portfolio, its EBITDA was $7.1 billion.

In 2021’s third quarter, the Group managed to transport 5.5 million TEU. It is a decrease of 2.5% to 2020’s third quarter when worldwide trade...

CMA CGM orders ten 2,000 teu ice-class box ships from Hyundai Mipo

French liner operator CMA CGM has chosen South Korean shipbuilder Hyundai Mipo Dockyard (HMD) to construct 10 ice-class vessels of 2,000 teu each.
Without identifying the customer, HMD stated in a Korea Exchange filing today that a “European customer” had ordered 10 dual-fuelled (with liquefied natural gas) 2,000 teu containerships for a total contract value of $627m.
HMD said the ships would be delivered by the end of September 2024.
CMA CGM had …

The post CMA CGM orders ten 2,000 teu ice-class...

CMA CGM achieves massive US$5.6 billion profits

CMA CGM Group has reported an astonishing surge in its profits during the third quarter of the year, reporting US$5.6 billion, while last year the company achieved US$567 million, according to the latest report.

The third-largest container carrier in the world has marked additional remarkable gains during the last quarter, with earnings before interest, tax, depreciation and amortisation (EBITDA) standing at US$7.1 billion which reflects to surge of almost 318% year-on-year.

At the same time, the...

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.