CMA CGM applies new peak season surcharge from Egypt to West Africa

French ocean carrier CMA CGM has announced a new peak season surcharge (PSS) from Egypt to West Africa.

The new surcharge will commence on 4 March and will be effective until further notice. The PSS will be US$100 / container and will be applied only to dry cargo, according to the company’s announcement.

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CMA CGM completes Bolloré Logistics takeover

French shipping giant CMA CGM Group has completed the acquisition of Bolloré Logistics from its compatriot transportation company Bolloré Group.

The two firms announced that the purchase price is €4.85 billion (US$5.25 billion), on the basis of the estimated debt and cash on the completion date.

In 2022, Bolloré Logistics achieved a turnover of €7.1 billion (US$7.7 billion), transported 710,000 TEUs of ocean freight and 390,000 tons of air freight, along with a storage capacity of 900,000 m².


CMA CGM resumes Red Sea transits

French shipping company CMA CGM Group has announced it will resume Red Sea transits on a case-by-case basis.

The Marseille-based carrier said, “We have reevaluated the situation in the Southern Area of the Red Sea and the evolving conditions allow us to resume transit on a case-by-case basis.”

CMA CGM noted that “the situation is being closely assessed for each vessel before each transit, routing choices, therefore, cannot be anticipated or communicated.”

Otherwise, all other vessels will be...

CMA CGM applies new rates from Indian Sub to North Europe and Med

French ocean carrier CMA CGM has unveiled updated Freight All Kinds (FAK) rates for shipments originating from the Indian Subcontinent and bound for North Europe, as well as the East and West Mediterranean regions.

These new FAK rates specifically apply to dry cargo. They are scheduled to come into effect from 14 March 2024 (gate-in date).

The new FAK rates will be as follows:

From India & Pakistan Amount in USD per 20′ Amount in USD per 40′ To North Europe To West Med

CMA CGM’s financials plunge amid stable container volumes

French ocean carrier CMA CGM reported revenues of US$47 billion in 2023, translating to a 36.9% decline compared with 2022 figures, EBITDA of US$9 billion, down by 72.9%, and net income of US$3.6 billion from US$25 billion in the previous year.

“Gradual deterioration in the maritime shipping environment throughout 2023, including in the fourth quarter, causing an anticipated year-on-year decline in revenue and operating profit,” said the company in its yearly results announcement.


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