- News / CMA CGM sails back into the black in Q2, but treads red water for first half
By Mike Wackett 10/09/2018 CMA CGM bucked the trend of its loss-making ocean carrier peers in the second quarter, producing a net profit of $23m and an ebit margin of 1.2%.However, the French carrier remained in negative territory for the first half of the year, recording a cumulative loss of $54m.Turnover in the second quarter was up 7.4% on the same period of 2017, to $5.7bn, from a 9.6% growth in liftings to 5.2m teu.Ebit was $67m, a massive 86% lower than the year before, and CMA CGM’s net income plunged by a similar percentage.However, CMA CGM was the only carrier in the top five to achieve a net profit in the second quarter – excluding MSC which does not publish its results.Having usurped CMA CGM from its long-coveted position of third-biggest carrier, behind Maersk and MSC, technically Cosco now assumes lead line status in the Ocean Alliance, a situation the French line, currently celebrating its 40th anniversary, will be keen to address in its growth strategy.Rodolphe Saade, chairman and chief executive of CMA CGM Group, said: “The strong volume growth demonstrates our commercial strength and the quality of our service offering.”He added that the carrier was “confident for the second half of the year”.“We anticipate an improved operating margin, thanks to the rise in freight rates and sustained volumes.”CMA CGM specifically attributed its robust volume growth to the transpacific, Asia-Middle East and South American routes, where it benefited from the acquisition of Brazilian cabotage line Mercosul from Maersk Line.Negative impacts were a 2.1% decline in average freight rate per teu and a 28% jump in the cost per tonne of bunker fuel.Lars Jensen, chief executive and partner at SeaIntelligence Consulting, said: “When seen in the context of a weak market, the result was indeed strong.”He noted that CMA CGM’s ebit margin of 1.2% for the quarter tied the carrier with Hapag-Lloyd as the best-in-class performance of the global carriers.Notwithstanding the French carrier’s return to profitability, the liner industry has suffered another quarter of severe losses. With all the major carriers that do so now having reported their interims, they have racked up a cumulative loss of some $1.2bn in the period, which follows a similar amount of red ink in the first quarter.During Q2, CMA CGM announced it had agreed to purchase Finnish shortsea inter-Europe operator Containerships, which it said was part of its strategy to “strengthen its offering in the intra-regional trades”.And in May it surprised the industry with its confirmation that it had acquired a 25% stake in CEVA Logistics to “strengthen its presence in logistics” and enable it to offer “high added-value solutions throughout the logistics chain”.The company has said that it would continue to look for consolidation opportunities in the liner sector, after reportedly having an approach to the shareholders of Hapag-Lloyd rejected.
- Cold weather shelters & supplies available in Southwest Florida
FOOTAGE: Casual candle thieves nab $1,200 in merchandise June 14, 2021 SOUTHWEST FLORIDA – Cold weather shelters and supplies are being made available in Southwest Florida after the National Weather Service forecast near-freezing temperatures for Tuesday night.LEE COUNTY:Residents are asked to donate blankets and cold-weather clothing items to the county’s four recreation centers from Tuesday through Friday to assist the homeless and those in need. Supplies can be dropped off at these locations:Estero Recreation CenterNorth Fort Myers Recreation CenterVeterans Park Recreation CenterWa-Ke Hatchee Recreation CenterFor addresses and operating hours, click here. Advertisement Tags: Charlotte Countycold weathershelter Security camera captures moment 2 Charlotte County burglars realized they were on tape June 16, 2021 AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments RELATEDTOPICS AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments AdvertisementClick here to see your full First Alert Forecast. Lee County Emergency Management is monitoring the cold temperatures and encourages residents to monitor updates from the National Weather Service.· The county and its nonprofit partners have identified additional overnight sheltering capacity at facilities such as the Bob Janes Triage Center and The Salvation Army. · The Department of Human & Veteran Services staff have updated the county’s coordinated entry phone line with a cold-weather announcement that promotes outreach locations, transportation assistance, sheltering and supplies. The number is 239-533-7996.· The county has identified several designated outreach locations on or near LeeTran routes for volunteers and staff to distribute blankets, hand-warmers, socks, hot coffee and a one-day LeeTran pass if a homeless person accepts a sheltering offer. This will begin at 5 p.m. Tuesday.· Staff and partnering agencies will conduct targeted outreach throughout today to known homeless encampments.· In addition to the public bringing donations to the four recreation centers, the county is partnering with the Fort Myers Police Department. Its headquarters building in downtown Fort Myers is accepting donations 24 hours a day.COLLIER COUNTY:St. Matthew’s House will house the homeless tonight at the Campbell Lodge in Naples and the Immokalee Friendship House. Both locations will be following CDC guidelines.Campbell Lodge is located at 2001 Airport Rd S, Naples, FL 34112.Due to social distancing, only 8 – 10 men and 3 – 5 women will be accepted to stay in the shelter. They’ll each be given a cot, blanket, and snacks if available. People can start checking in at 8:00 p.m.Immokalee Friendship House is located at 602 W Main St, Immokalee, FL 34142.A combination of 6 men and women will be accepted at the Immokalee location. They’ll also get a cot and blanket as well as snacks and breakfast. People in need of shelter can check in as early as 6:30 tonight.CHARLOTTE COUNTY:A cold weather shelter is opening in Port Charlotte after the National Weather Service forecast near-freezing temperatures for Tuesday night.The Charlotte County Homeless Coalition, located at 1476 Kenesaw Street, will be providing shelter to people needing refuge from the cold. The shelter will be accepting guests from 5:30 p.m. to 7 p.m. on Tuesday. The American Red Cross will be supporting the shelter with cots. For information, call 211. Charlotte County residents in Englewood, TTY users and other areas may call 941-205-2161. NBC2 has reached out to other counties in SWFL for information on cold weather shelters. We are waiting to hear back. DNA identifies long-unknown victim found during Hog Trail Killer investigation June 13, 2021 Advertisement One arrested, two on the run in blundered Charlotte County burglary June 16, 2021 Advertisement