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CMA CGM Group net income sharply up; to operate 44 LNG-powered vessels by end of 2024

The company recorded net income of USD 2.078 billion in Q1 2021, significantly higher than net income of USD 48 million in the similar period last year.




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Worldwide shipping and logistics company CMA CGM Group on Friday (4 June) posted a sharp increase in net income for the first quarter (Q1) of 2021 due to an increase in demand for consumer goods.

It recorded net income of USD 2.078 billion in Q1 2021, significantly higher than net income of USD 48 million in the similar period last year.

First-quarter revenue stood at USD 10.7 billion, up 49.2% from the first quarter 2020, which was impacted by a slowdown in international trade due to lockdown measures, particularly in China.

Notably, the Group said it will be operating a fleet of 44 LNG-powered vessels by the end of 2024.

“LNG is currently the best and most readily available solution for reducing shipping’s environmental footprint and preserving air quality, which is a major public health concern,” it states.

“It reduces sulfur oxide emissions by 99%, particulate matter emissions by 91%, and nitrogen oxide emissions by 92%, far exceeding current local and international regulations.

“LNG also represents an initial response in the fight against global warming. This technology is one of the first steps towards achieving the objective of carbon neutrality that the CMA CGM Group has set itself for 2050.”

In April 2021, the Group ordered 22 new vessels to be delivered between 2023 and 2024:

  • six 13,000-TEU vessels powered by liquefied natural gas (LNG);
  • six 15,000-TEU vessels powered by LNG;
  • ten 5,000-TEU vessels powered by very low sulfur fuel oil (VLSFO).

The Group also confirmed it would be deploying six new LNG-powered 15,000-TEU vessels between China and the U.S. West Coast by the end of 2022. The first vessel will join the Group’s fleet in October 2021.

The current environment should allow the Group to achieve at least the same results in the second quarter of 2021, as it did in the first.

“The sustained demand for the shipping of consumer goods seen since the summer of 2020 is expected to continue in the second half of 2021,” it said.

“The Group will continue to invest in strengthening and upgrading its shipping and logistics assets while bolstering its financial structure.

“As part of its commitment to customers around the world, the Group will continue to deploy solutions to support their business activity and ensure the continuity of their supply chains.”

CMA CGM in early April launched the first low-carbon biomethane-based shipping solution as part of its trajectory toward carbon neutrality by 2050.

The Group is supporting the production of 12,000 tonnes of biomethane (equivalent to the consumption of  two LNG-powered 1,400 TEU vessels for a year), a renewable green gas produced from, among other things, organic and plant waste from European farms and that is used at methane conversion plants.

Along with the dual-fuel gas engine technology currently used in LNG vessels, the Guarantee-of-Origin biomethane solution reduces well-to-wake (i.e. whole life cycle) greenhouse gas emissions (including CO2 emissions) by 67%.

Related: CMA CGM: Biomethane bunker fuel option to reduce CO2 emissions by at least 67%
Related: CMA CGM biomethane bunker fuel option reduces GHG emissions for clients


Photo credit: CMA CGM
Published: 21 May, 2021

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Singapore: EPS orders ammonia, LNG dual-fuel vessels from China

EPS signed one contract for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International.






Singapore-based Eastern Pacific Shipping (EPS) on Wednesday (28 February) said it signed two new contract orders in a signing ceremony in Shanghai, one for a series of ammonia dual-fuel bulk carriers with CSSC Beihai Shipbuilding and another for a series of LNG dual-fuel oil tankers with CSSC Guangzhou Shipbuilding International. 

The contracts signed cover four 210,000 dwt ammonia dual-fuel bulk carriers and two 111,000 dwt LNG dual-fuel LR2 oil tankers, expanding our fleet of green vessels on water. 

“These are pivotal for EPS, testament to our continued commitment towards the decarbonisation of shipping,” EPS said in a social media post.

Manifold Times recently reported EPS signing a contract for its first ever wind-assisted propulsion system, partnering with bound4blue to install three 22-metre eSAILs® onboard the Pacific Sentinel

The turnkey ‘suction sail’ technology, which drags air across an aerodynamic surface to generate exceptional propulsive efficiency, will be fitted later this year, helping the 183-metre, 50,000 DWT oil and chemical tanker reduce overall energy consumption by approximately 10%, depending on vessel routing.

Related: Singapore: EPS orders its first wind-assisted propulsion system for tanker


Photo credit: Eastern Pacific Shipping
Published: 1 March 2024

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LNG Bunkering

Malaysia: Port of Tanjung Pelepas completes first LNG bunkering operation

Landmark event involved the CMA CGM Monaco, a 14,024 TEUs containership operated by French shipping giant CMA CGM.






Port of Tanjung Pelepas Sdn Bhd (PTP), a joint venture between MMC Group and APM Terminals, on Wednesday (28 February) announced a significant milestone with the successful completion of its first Liquefied Natural Gas (LNG) bunkering operation. 

The landmark event involved the CMA CGM Monaco, a 14,024 TEUs (Twenty-foot Equivalent Units) capacity containership operated by French shipping giant, CMA CGM.

Tan Sri Che Khalib Mohamad Noh, Chairman of PTP in a statement remarked this latest milestone demonstrates PTP’s commitment to continuously enhance its competitive advantages in an increasingly competitive global market.

“The successful completion of our first LNG bunkering operation also underscores our unwavering commitment to sustainability and environmental leadership. We are proud to partner with Petronas Trading Corporation Sendirian Berhad (PETCO) and CMA CGM on this initiative and showcase PTP’s capabilities as a leading facilitator of clean and efficient maritime operations.”

“This milestone paves the way for further growth in LNG bunkering at PTP, contributing significantly to the decarbonisation of the maritime industry.”

Commenting on this achievement, Mark Hardiman, Chief Executive Officer of PTP stated this latest milestone further highlights PTP’s position as the largest transshipment hub terminal in Malaysia.

“In preparation for the LNG bunkering operation, PTP worked closely since March 2022 with PETCO and CMA CGM, as well as with various other related government agencies to organise table-top exercises (TTX) and workshops, before carrying out the deployment exercise.”

“The success of the bunkering operation is a result of the seamless collaboration and preparations involving rigorous safety procedures through in-depth operational and risk assessments, modelling, and validation. We thank PETCO, CMA CGM all other involved parties for their joint efforts in operationalising the bunkering capability and we welcome partners to work with us to accelerate maritime decarbonisation,” said Hardiman.

Port of Tanjung Pelepas (PTP) is Malaysia’s largest transshipment hub with the capacity to handle 13 million TEUs annually. The port delivers reliable, efficient, and advanced services to major shipping lines and box operators, providing shippers in Malaysia and abroad with extensive connectivity to the global market. PTP is currently ranked 15th among the world top container ports.


Photo credit: Port of Tanjung Pelepas
Published: 1 March 2024

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Alternative Fuels

Wallenius Wilhelmsen to order four additional methanol DF PCTCs

Newbuilds will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.





Wallenius Wilhelmsen PCTC order

Roll-on/roll-off (Ro-Ro) shipping company Wallenius Wilhelmsen on Tuesday (27 February) declared options to build four additional next-generation Shaper Class pure car and truck carrier (PCTC) vessels.

The 9,300 CEU methanol dual fuel vessels can utilise alternative fuel sources, such as methanol, upon delivery. They will also be ammonia-ready and able to be converted as soon as ammonia becomes available in a safe and secure way.

“Together with our customers we are committed to further shaping our industry and accelerating towards net zero. These new vessels are a vital part of that journey,” says Xavier Leroi, EVP & COO Shipping Services.

This latest commitment brings the total number of Shaper Class vessels currently on order with Jinling Shipyard (Jiangsu) to eight. Wallenius Wilhelmsen also retains further options.

The first of the Shaper Class vessels already ordered are expected to be delivered in the second half of 2026. The four additional vessels under the declared options will be delivered between May and November 2027.


Photo credit: Wallenius Wilhelmsen
Published: 1 March 2024

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