CMA CGM to cut costs by US$600m

However, by maintaining its growth strategy during last year the Group says it is ‘well prepared for 2009 and 2010’.

By the end of 2008, the Group reported revenue of just over US$15bn, up 28.2% compared with the previous year. Freight volumes rose by 15.6% to 8.9m teu.

The Group’s fleet numbered 395 vessels, of which 98 were owned, with a container fleet representing 1.76m teu, up 14%. The reefer fleet rose sharply during the year, making CMA CGM the world’s second largest carrier of goods in refrigerated containers.