The French shipping giant, however, has raised concerns over the potential negative impact of higher tariffs in the US, warning that this could lead to a reorganization of global supply chains.
The Marseille-based company posted group revenues of $55.5 billion for 2024, marking an 18% year-on-year increase. CMA CGM attributed the growth to its liner operations, which have benefitted from a surge in maritime container shipping demand following the normalization of the transport and logistics sector after the Covid-19 pandemic.
"While the industry faced challenges from geopolitical tensions, global trade showed stronger-than-expected growth, and the rebuilding of inventories further supported demand," CMA CGM said in a statement. Despite this, the company noted that global capacity was negatively impacted by geopolitical factors.
In 2024, CMA CGM transported 23.6 million TEUs, a 7.8% increase from the previous year. Revenues from the container shipping division rose by 16.2% to $36.5 billion. For the fourth quarter, container volumes increased by 7.8% to 5.9 million TEUs, with revenues from the container shipping segment surging by nearly 44% to $9.5 billion.
The company also saw a 33.5% increase in revenue per FEU in Q4, reaching $3,204, although this was a 10.8% decrease from the previous quarter, reflecting broader trends of weakening freight rates. CMA CGM anticipates global trade will grow in line with stable global economic growth of around 3%.
However, the company cautioned that the potential for higher tariffs in the US could disrupt trade flows and prompt significant shifts in global supply chains. It also pointed out that the delivery of new vessels and ongoing developments in the Red Sea will play crucial roles in shaping the market.
"In this uncertain environment, CMA CGM remains cautious and closely monitors the evolving economic and geopolitical landscape. Nevertheless, the company is confident in its ability to navigate these challenges, thanks to its business diversification and robust financial position," the statement concluded.
