CMA CGM trumpeted the role of scale in helping it hit its financial targets despite a drop in its third-quarter bottom line.
The French carrier posted a profit of $103.1m in the three months to the close of September, down by more than two-thirds on the same period a year ago.
Rodolphe Saade, chief executive of the containership heavyweight, instead pointed to core operating profit of $241m, which, while down from $568m year on year, was up from the previous quarter.
"In a context of sharply rising fuel prices, CMA CGM core EBIT margin recorded a significant increase compared to the second quarter of 2018, at 4.0%,” he said.
CMA CGM says the margin was up from 1.2% in the previous quarter and confirmed the performance improvement announced in September for the second half of the year.
"This performance is the result of the group's ability to leverage its size and global network to maximise its revenues, despite the rise in fuel price," it said.
CMA CGM is in the process of taking over logistics player CEVA, which it says will accelerate the company’s transformation and “unleash [CEVA's] full potential”.
It also highlighted progress in its digital strategy, including Saade's ZeBox initiative to support start-ups, the use of artificial intelligence and a number of agreements to develop blockchain technology.
