CMA CGM Group: Strong Performance, Congestion Surcharge in Nicaragua and El Salvador, and Red Sea Route Restart

The CMA CGM Group has shown remarkable performance in 2024. In the third quarter, the total operating revenue reached $15.83 billion, with a year - on - year growth of 38.5%. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was $4.96 billion, with a year - on - year increase of 148.6%, and the EBITDA margin grew by 13.9 percentage points year - on - year to 31.4%. The net profit reached $2.73 billion, representing a significant increase of 603.6% compared to the same period of the previous year. In the first three quarters of 2024, the total operating revenue was $40.80 billion, with a year - on - year growth of 12.0%. The EBITDA reached $9.83 billion, with a year - on - year growth of 22.5%. The EBITDA margin increased by 2.1 percentage points year - on - year to 24.1%, and the net profit was $41.8 billion, with a year - on - year growth of 12.0%.

Meanwhile, there are new developments in CMA CGM's maritime shipping business. CMA CGM has implemented new charging policies for Nicaragua and El Salvador. Starting from December 1 (until further notice), a $1,000 - per - container Port Congestion Surcharge (PCS) will be charged for all types of cargo shipped to these two countries, and a $1,000 - per - container Peak Season Surcharge (PSS) will be levied on all cargo originating from these two countries.

In addition, CMA CGM has announced that it will reopen its shipping service across the Red Sea starting from mid - November. The "India America Express" (INDAMEX) route will be adjusted to pass through the Suez Canal. The ships under its flag will resume two - way calls at the ports of Damietta and Jeddah, and the port of Tanger Med will be added to the westbound route.