French container shipping group CMA CGM is pursuing a plan to rebuild Beirut's port within three years, despite political deadlock in Lebanon that has prevented decisions on the port since a blast last August, a company executive said.A chemical explosion at the port killed 200 people and destroyed entire neighborhoods
Offshore wind investments in the European Union and Britain in 2020 were more than double the level projected at the start of the year and should continue to grow in 2021, an industry group said on Wednesday.The record 26.3 billion euros ($31.9 billion) invested in offshore wind projects in Europe last year was a figure not expected until 2025, Guy Brindley, financial analyst at Wind Europe, said.
Container shipping group CMA CGM will expand its use of liquified natural gas (LNG) to 26 vessels, it said on Thursday, as part of efforts to reduce pollution in ocean shipping.After announcing three years ago that it would adopt LNG, French-based CMA CGM has made several orders for gas-powered ships and now plans to have 26 such vessels in service by 2022, it said in a statement.
CMA CGM, the world’s fourth-largest container shipping group, said it has restored its online business services after a cyber attack last month paralyzed activity.France-based CMA CGM first reported the incident on September 28, saying it had shut down access to its online services after malware targeted its peripheral servers.
CMA CGM suspects a cyber attack affecting its servers led to a data breach, the global shipping line said on Wednesday as it continued to restore online services."We suspect a data breach and are doing everything possible to assess its potential volume and nature," it said in a statement.
French container shipping group CMA CGM said on Thursday it was stopping all increases in its spot freight rates until February in a gesture to customers after a surge in shipping costs during the coronavirus pandemic.The pandemic has strained global logistics due to sanitary restrictions and a sharp rebound in economic activity following a slump last year.
CMA CGM, one of the world's largest container shipping groups, on Friday posted a jump in first-quarter earnings and said it expected strong demand for transporting consumer goods to continue for the rest of the year.French-based CMA CGM's net profit rose to $2.1 billion in the first quarter from $48 million in the same period last year, while core EBITDA earnings rose to $3.
Germany will next week present a multi-billion-dollar proposal to Lebanese authorities to rebuild the Port of Beirut as part of efforts to entice the country’s politicians to form a government capable of warding off financial collapse, two sources said.A chemical explosion at the port last August killed 200 people, injured thousands and destroyed entire neighborhoods in Lebanon’s capital
Container shipping group CMA CGM said on Friday that it expected activity to remain strong in the first half of this year after brisk demand for consumer goods boosted its profits at the end of last year.France-based CMA CGM said its fourth-quarter earnings before interest, tax, depreciation and amortization (EBITDA) reached $2.23 billion, compared with $1.01 billion in the year-earlier period.
Container shipping line CMA CGM is to expand its fleet of natural gas-powered vessels to cover the busy trans-Pacific route between China and the United States as part of a push to use the fuel to reduce pollution, the group said on Thursday.CMA CGM will deploy by next year six chartered ships with a capacity of 15,000 20-foot equivalent units (TEU) each on its China-Los Angeles service
Shipping group CMA CGM on Friday announced the creation of an air freight division, backed by the acquisition of four cargo planes, as it continues to expand its non-maritime activities.The new unit, called CMA CGM Air Cargo, will use the four Airbus A330-200F cargo planes acquired by CMA CGM along with partnerships with airlines to develop worldwide coverage, the group said in a statement.
Container shipping group CMA CGM said on Friday shipping activity remained strong in the final quarter of 2020 after a rebound from initial coronavirus-related disruption boosted the French company's third-quarter profits.CMA CGM, the world's fourth-largest container shipping line, said its EBITDA margin rose to 21.0% in the third quarter from 17.2% in the previous quarter and 13.