ports

CMA CGM Posts First-Quarter Decline Amid Rate Pressure and Share Loss

French container carrier CMA CGM reported lower first-quarter earnings as weak freight rates and reduced market share pressured results. The carrier handled 5.85 million teu during the quarter, representing a loss of market positioning as global container volumes grew 4 percent. Average freight rates fell 8.8 percent to $1,351 per teu, weighing heavily on shipping revenues. EBITDA declined 17.2 percent year-over-year to $330 million, with an EBITDA margin of 16 percent. Chief Executive Rodolphe Saade attributed the performance to deteriorating market conditions and ongoing challenges in the automotive sector. CMA CGM's logistics subsidiary Ceva provided partial offset through revenue growth. This underscores the group's strategy to diversify beyond container shipping operations in an uncertain geopolitical environment.